Freedom Day Solutions LLC Lowers Holdings in Mueller Industries, Inc. (NYSE:MLI)

Freedom Day Solutions LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. William Blair Investment Management LLC bought a new position in Mueller Industries during the fourth quarter valued at approximately $201,376,000. Norges Bank bought a new stake in Mueller Industries during the 4th quarter valued at $117,351,000. Invesco Ltd. raised its position in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares in the last quarter. FMR LLC raised its position in Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Mueller Industries by 169.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after acquiring an additional 665,413 shares during the period. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director owned 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director owned 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is currently owned by insiders.

Mueller Industries Trading Up 0.7%

Shares of NYSE:MLI traded up $0.63 on Friday, reaching $86.25. The company had a trading volume of 965,822 shares, compared to its average volume of 1,045,432. Mueller Industries, Inc. has a 52-week low of $59.70 and a 52-week high of $96.81. The firm's 50 day simple moving average is $78.08 and its 200-day simple moving average is $78.02. The firm has a market capitalization of $9.54 billion, a PE ratio of 15.71 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.16%. Mueller Industries's dividend payout ratio (DPR) is 18.21%.

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.