Mueller Industries, Inc. (NYSE:MLI) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 10.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,045 shares of the industrial products company’s stock after selling 2,645 shares during the quarter. First Manhattan CO. LLC.’s holdings in Mueller Industries were worth $1,829,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries in the 4th quarter valued at $32,000. Quarry LP acquired a new position in Mueller Industries in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries in the fourth quarter valued at about $53,000. Finally, City State Bank purchased a new position in shares of Mueller Industries during the fourth quarter worth about $58,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.1 %

Shares of MLI stock opened at $74.89 on Friday. The stock’s 50-day moving average price is $75.48 and its 200 day moving average price is $79.81. The stock has a market capitalization of $8.29 billion, a PE ratio of 14.10 and a beta of 1.03. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Mueller Industries’s dividend payout ratio is presently 18.21%.

Insiders Place Their Bets

In other Mueller Industries 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 approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 36,483 shares of company stock worth $2,752,341. Company insiders own 2.70% of the company’s stock.

About Mueller Industries

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.