Mueller Industries, Inc. (NYSE:MLI) Stake Trimmed by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,740 shares of the industrial products company’s stock after selling 360 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Mueller Industries were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. TD Private Client Wealth LLC boosted its position in Mueller Industries by 218.7% during the 1st quarter. TD Private Client Wealth LLC now owns 8,747 shares of the industrial products company’s stock worth $666,000 after acquiring an additional 6,002 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Mueller Industries by 134.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 290,573 shares of the industrial products company’s stock valued at $22,124,000 after buying an additional 166,637 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Mueller Industries during the 1st quarter valued at about $34,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Mueller Industries during the 1st quarter valued at about $272,000. Finally, Aviance Capital Partners LLC acquired a new stake in shares of Mueller Industries during the 1st quarter valued at about $307,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $83.33 on Wednesday. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 15.18 and a beta of 1.01. Mueller Industries, Inc. has a 52-week low of $55.72 and a 52-week high of $96.81. The stock has a 50-day simple moving average of $77.40 and a 200-day simple moving average of $77.89.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.20%. Mueller Industries’s dividend payout ratio is currently 18.21%.

Insiders Place Their Bets

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

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.