Ensign Peak Advisors Inc lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,246 shares of the industrial products company's stock after selling 7,368 shares during the period. Ensign Peak Advisors Inc owned 0.06% of Mueller Industries worth $5,178,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLI. Ethic Inc. bought a new stake in Mueller Industries during the fourth quarter worth $407,000. Deutsche Bank AG lifted its position in shares of Mueller Industries by 85.1% during the 4th quarter. Deutsche Bank AG now owns 122,884 shares of the industrial products company's stock worth $9,752,000 after buying an additional 56,488 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Mueller Industries by 11.7% in the fourth quarter. EP Wealth Advisors LLC now owns 3,701 shares of the industrial products company's stock valued at $294,000 after buying an additional 389 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Mueller Industries by 8,689.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 68,715 shares of the industrial products company's stock valued at $5,453,000 after buying an additional 69,515 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Mueller Industries by 20.1% in the fourth quarter. Cetera Investment Advisers now owns 15,732 shares of the industrial products company's stock valued at $1,248,000 after acquiring an additional 2,628 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Mueller Industries
In related news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was 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 directly owns 39,615 shares of the company's stock, valued at $2,910,117.90. This trade represents a 29.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $244,359.10. Following the completion of the sale, the director now owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,613 shares of company stock worth $2,198,600. Company insiders own 2.70% of the company's stock.
Mueller Industries Stock Performance
Shares of Mueller Industries stock traded up $0.27 during midday trading on Tuesday, hitting $78.77. 121,617 shares of the company traded hands, compared to its average volume of 853,564. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 month high of $96.81. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 14.83 and a beta of 1.03. The firm's fifty day moving average price is $75.26 and its 200-day moving average price is $79.65.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.
Mueller Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid 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 is Friday, June 6th. Mueller Industries's payout ratio is currently 18.21%.
Mueller Industries Company Profile
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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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