Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Crestline Management LP

Crestline Management LP decreased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 63.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,763 shares of the industrial products company's stock after selling 4,900 shares during the period. Crestline Management LP's holdings in Mueller Industries were worth $219,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. New Age Alpha Advisors LLC bought a new stake in shares of Mueller Industries in the 4th quarter worth about $32,000. Quarry LP bought a new stake in Mueller Industries during the 4th quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new stake in shares of Mueller Industries in the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries in the 4th quarter worth $53,000. Finally, City State Bank acquired a new stake in shares of Mueller Industries in the 4th quarter worth $58,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

MLI stock traded down $0.31 during midday trading on Thursday, reaching $79.01. The stock had a trading volume of 883,536 shares, compared to its average volume of 932,601. The stock has a market cap of $8.74 billion, a PE ratio of 14.88 and a beta of 1.03. The firm has a fifty day simple moving average of $75.37 and a two-hundred day simple moving average of $79.76. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81.

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

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's payout ratio is presently 18.21%.

Insider Activity

In related news, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the transaction, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the director now owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is currently owned by company 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.