Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Trimmed by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,663,350 shares of the industrial products company’s stock after selling 85,700 shares during the quarter. Mueller Industries accounts for approximately 1.0% of Gabelli Funds LLC’s holdings, making the stock its 13th largest position. Gabelli Funds LLC owned approximately 1.46% of Mueller Industries worth $132,003,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MLI. Invesco Ltd. increased its stake 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 buying an additional 933,498 shares during the period. Geode Capital Management LLC raised its holdings in Mueller Industries by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock worth $214,763,000 after purchasing an additional 117,327 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Mueller Industries in the fourth quarter worth approximately $201,376,000. FMR LLC increased its position in shares of Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after purchasing an additional 845,031 shares during the period. Finally, Norges Bank bought a new stake in shares of Mueller Industries in the 4th quarter worth $117,351,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.4 %

Shares of Mueller Industries stock opened at $73.82 on Tuesday. The business has a fifty day simple moving average of $78.27 and a 200-day simple moving average of $79.95. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 13.90 and a beta of 0.96. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend 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.