F M Investments LLC Cuts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

F M Investments LLC trimmed its stake in Mueller Industries, Inc. (NYSE:MLI) by 68.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 80,437 shares of the industrial products company’s stock after selling 171,042 shares during the quarter. F M Investments LLC owned approximately 0.07% of Mueller Industries worth $6,383,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth about $201,376,000. Norges Bank purchased a new stake in Mueller Industries during the 4th quarter valued at $117,351,000. Invesco Ltd. grew its position in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock valued at $221,304,000 after purchasing an additional 933,498 shares during the last quarter. FMR LLC increased its stake in shares of Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock worth $151,712,000 after purchasing an additional 845,031 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Mueller Industries by 59.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 844,287 shares of the industrial products company’s stock valued at $67,003,000 after acquiring an additional 316,095 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $75.84 on Thursday. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The company’s 50 day simple moving average is $78.51 and its 200 day simple moving average is $79.85. The firm has a market capitalization of $8.40 billion, a P/E ratio of 14.28 and a beta of 0.96.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

Mueller Industries Company 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.