Freedom Day Solutions LLC Has $2.77 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Freedom Day Solutions LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,335 shares of the industrial products company's stock after selling 4,350 shares during the period. Freedom Day Solutions LLC's holdings in Mueller Industries were worth $2,767,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in shares of Mueller Industries during the first quarter valued at about $317,000. Fifth Third Bancorp raised its position in shares of Mueller Industries by 6.1% during the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock valued at $282,000 after buying an additional 213 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Mueller Industries during the first quarter valued at about $303,000. Chevy Chase Trust Holdings LLC acquired a new position in shares of Mueller Industries during the first quarter valued at about $4,140,000. Finally, KBC Group NV raised its position in shares of Mueller Industries by 391.3% during the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock valued at $1,567,000 after buying an additional 16,387 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

Shares of MLI traded down $0.46 during trading hours on Monday, reaching $85.93. 837,688 shares of the company traded hands, compared to its average volume of 1,046,588. The stock's fifty day moving average is $78.08 and its 200 day moving average is $77.98. The stock has a market cap of $9.51 billion, a P/E ratio of 15.65 and a beta of 1.01. Mueller Industries, Inc. has a 1-year low of $60.35 and a 1-year high of $96.81.

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, topping analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, June 6th. Mueller Industries's dividend payout ratio is 18.21%.

Insiders Place Their Bets

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,210,841.18. Following the transaction, the director owned 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 sold a total of 29,613 shares of company stock worth $2,198,600 over the last quarter. 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.