Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,012 shares of the industrial products company’s stock after selling 3,224 shares during the period. Gotham Asset Management LLC’s holdings in Mueller Industries were worth $1,906,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MLI. Graham Capital Management L.P. acquired a new position in shares of Mueller Industries in the 4th quarter valued at about $476,000. Ethic Inc. bought a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $407,000. Deutsche Bank AG increased its holdings in shares of Mueller Industries by 85.1% in the 4th quarter. Deutsche Bank AG now owns 122,884 shares of the industrial products company’s stock valued at $9,752,000 after acquiring an additional 56,488 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Mueller Industries by 11.7% in the 4th quarter. EP Wealth Advisors LLC now owns 3,701 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 389 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Mueller Industries by 8,689.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 68,715 shares of the industrial products company’s stock worth $5,453,000 after buying an additional 69,515 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Terry Hermanson sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director now directly owns 100,082 shares of the company’s stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 3,130 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the transaction, the director now directly owns 93,914 shares in the company, valued at $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock worth $2,198,600 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Price Performance

Shares of MLI opened at $79.35 on Friday. The company has a market cap of $8.78 billion, a P/E ratio of 14.94 and a beta of 1.03. The stock has a fifty day moving average price of $75.27 and a 200 day moving average price of $79.71. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 month high of $96.81.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

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.