Congress Asset Management Co. Sells 10,094 Shares of Mueller Industries, Inc. (NYSE:MLI)

Congress Asset Management Co. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,542 shares of the industrial products company's stock after selling 10,094 shares during the quarter. Congress Asset Management Co. owned 0.17% of Mueller Industries worth $14,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MLI. New Age Alpha Advisors LLC bought a new position in Mueller Industries during the fourth quarter valued at about $32,000. Quarry LP purchased a new position in Mueller Industries in the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the 4th quarter worth approximately $53,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Mueller Industries in the 4th quarter worth approximately $53,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Down 0.1%

Mueller Industries stock traded down $0.07 during midday trading on Wednesday, reaching $78.36. The stock had a trading volume of 524,814 shares, compared to its average volume of 946,305. The firm has a market capitalization of $8.67 billion, a PE ratio of 14.76 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 firm's 50-day moving average price is $74.92 and its 200 day moving average price is $78.24.

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

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Mueller Industries's dividend payout ratio is currently 18.21%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 3,130 shares of the business's 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 now directly owns 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the transaction, the director now owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. 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 over the last 90 days. Corporate insiders own 2.70% of the company's stock.

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.