Allspring Global Investments Holdings LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,210,239 shares of the industrial products company's stock after selling 403,168 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.00% of Mueller Industries worth $171,338,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the stock. Golden State Wealth Management LLC raised its position in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Arizona State Retirement System boosted its holdings in Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock valued at $2,480,000 after acquiring an additional 170 shares during the last quarter. Benjamin Edwards Inc. increased its position in Mueller Industries by 5.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after purchasing an additional 187 shares during the period. Texas Yale Capital Corp. raised its holdings in Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its position in Mueller Industries by 1.4% during the 4th quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock valued at $1,197,000 after purchasing an additional 213 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 over the last three months. Company insiders own 2.70% of the company's stock.
Mueller Industries Trading Up 1.3%
Shares of NYSE:MLI traded up $1.02 during trading on Friday, hitting $80.30. 17,180,916 shares of the company's stock were exchanged, compared to its average volume of 1,030,268. The firm has a market cap of $8.88 billion, a P/E ratio of 14.63 and a beta of 1.03. The firm has a 50-day moving average price of $75.93 and a two-hundred day moving average price of $77.84. Mueller Industries, Inc. has a 1-year low of $55.20 and a 1-year high of $96.81.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.92% and a return on equity of 23.17%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.
Mueller Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.
Mueller Industries 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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