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

Congress Asset Management Co. cut its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the 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 SEC filing.

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

Insiders Place Their Bets

In other news, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director now owns 100,082 shares in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction on 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 directly owns 93,914 shares of the company's stock, 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. Over the last 90 days, insiders have sold 29,613 shares of company stock worth $2,198,600. Insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded up $0.02 during trading hours on Monday, hitting $77.44. The stock had a trading volume of 1,421,847 shares, compared to its average volume of 946,791. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The firm has a market capitalization of $8.57 billion, a P/E ratio of 14.58 and a beta of 1.03. The firm has a 50 day simple moving average of $74.87 and a 200-day simple moving average of $78.31.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1 billion.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

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.