D. E. Shaw & Co. Inc. Cuts Holdings in Mueller Industries, Inc. (NYSE:MLI)

D. E. Shaw & Co. Inc. reduced its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 62.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,574 shares of the industrial products company's stock after selling 33,744 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Mueller Industries were worth $1,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in Mueller Industries by 5.6% during the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after purchasing an additional 327,479 shares during the period. Invesco Ltd. increased its holdings in shares of Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after buying an additional 933,498 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Mueller Industries by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock worth $214,763,000 after buying an additional 117,327 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Mueller Industries during the 4th quarter valued at approximately $201,376,000. Finally, FMR LLC lifted its holdings in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after acquiring an additional 845,031 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Up 3.3%

MLI stock traded up $2.52 during midday trading on Tuesday, hitting $78.38. 827,674 shares of the company's stock were exchanged, compared to its average volume of 937,163. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The stock has a market capitalization of $8.67 billion, a PE ratio of 14.76 and a beta of 1.03. The business has a 50-day simple moving average of $74.90 and a two-hundred day simple moving average of $79.17.

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

Mueller Industries Announces Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's dividend payout ratio is presently 18.21%.

Insider Activity

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the business'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 sale, the director now owns 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,210,841.18. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,613 shares of company stock valued at $2,198,600. Company insiders own 2.70% of the company's stock.

Mueller Industries 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.