Crestline Management LP decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 63.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,763 shares of the industrial products company's stock after selling 4,900 shares during the quarter. Crestline Management LP's holdings in Mueller Industries were worth $219,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of MLI. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries in the 4th quarter worth $32,000. Quarry LP purchased a new stake in Mueller Industries in the 4th quarter worth $45,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries in the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mueller Industries in the 4th quarter worth $53,000. Finally, City State Bank purchased a new stake in Mueller Industries in the 4th quarter worth $58,000. Hedge funds and other institutional investors own 94.50% of the company's stock.
Insider Transactions at Mueller Industries
In related news, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 39,615 shares in the company, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now 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 have sold a total of 29,613 shares of company stock worth $2,198,600 in the last three months. Insiders own 2.70% of the company's stock.
Mueller Industries Stock Up 0.4%
MLI stock traded up $0.30 during mid-day trading on Friday, hitting $79.35. The company had a trading volume of 555,440 shares, compared to its average volume of 933,695. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The company has a 50-day moving average price of $75.27 and a 200 day moving average price of $79.69.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.
Mueller Industries Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.26%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.
About Mueller Industries
(
Free Report)
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.
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