Vanguard Group Inc. Sells 1,041,339 Shares of Mueller Industries, Inc. (NYSE:MLI)

Vanguard Group Inc. reduced its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,704,852 shares of the industrial products company's stock after selling 1,041,339 shares during the quarter. Vanguard Group Inc. owned about 10.29% of Mueller Industries worth $928,897,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the third quarter worth approximately $41,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the 4th quarter worth $53,000. City State Bank acquired a new stake in shares of Mueller Industries during the fourth quarter worth $58,000. Finally, GAMMA Investing LLC boosted its position in shares of Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 258 shares during the period. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price target on the stock in a research report on Wednesday, December 11th.

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Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.80% of the company's stock.

Mueller Industries Trading Down 0.2 %

NYSE MLI traded down $0.13 during midday trading on Wednesday, hitting $77.40. The company had a trading volume of 134,881 shares, compared to its average volume of 893,587. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The company has a market capitalization of $8.77 billion, a PE ratio of 14.54 and a beta of 0.99. The firm has a 50-day moving average price of $79.70 and a 200-day moving average price of $79.91.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.29%. Mueller Industries's payout ratio is presently 18.83%.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.