Phoenix Financial Ltd. Sells 208 Shares of Mueller Industries, Inc. (NYSE:MLI)

Phoenix Financial Ltd. cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,329 shares of the industrial products company’s stock after selling 208 shares during the quarter. Phoenix Financial Ltd.’s holdings in Mueller Industries were worth $344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Mueller Industries during the fourth quarter valued at approximately $6,855,000. Texas Yale Capital Corp. lifted its stake in shares of Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock valued at $283,000 after buying an additional 200 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Mueller Industries by 9.6% during the 4th quarter. Advisory Services Network LLC now owns 13,394 shares of the industrial products company’s stock valued at $1,063,000 after buying an additional 1,174 shares in the last quarter. Abacus FCF Advisors LLC boosted its holdings in Mueller Industries by 46.2% in the 4th quarter. Abacus FCF Advisors LLC now owns 47,453 shares of the industrial products company’s stock worth $3,766,000 after buying an additional 15,004 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Mueller Industries by 151.2% in the 4th quarter. Renaissance Technologies LLC now owns 477,000 shares of the industrial products company’s stock worth $37,855,000 after buying an additional 287,100 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 10,000 shares of the 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 transaction, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Up 2.2 %

Shares of Mueller Industries stock opened at $74.24 on Friday. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 13.98 and a beta of 0.96. The stock’s 50-day simple moving average is $78.36 and its 200-day simple moving average is $79.88. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates 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 business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is 18.83%.

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.