Man Group plc Decreases Stake in Mueller Industries, Inc. (NYSE:MLI)

Man Group plc lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,493 shares of the industrial products company's stock after selling 14,519 shares during the quarter. Man Group plc owned about 0.18% of Mueller Industries worth $15,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arizona State Retirement System lifted its position in Mueller Industries by 0.5% during the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock valued at $2,480,000 after purchasing an additional 170 shares during the last quarter. CIBC Asset Management Inc grew its position in Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after acquiring an additional 174 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Mueller Industries by 5.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after acquiring an additional 187 shares during the last quarter. Caprock Group LLC lifted its stake in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after purchasing an additional 194 shares during the last quarter. Finally, Texas Yale Capital Corp. boosted its holdings in shares of Mueller Industries by 6.0% in the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after purchasing an additional 200 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director now directly owns 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 39,615 shares of the company's stock, valued at $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

NYSE MLI traded down $0.69 during trading on Tuesday, hitting $77.81. 1,037,655 shares of the company's stock traded hands, compared to its average volume of 933,291. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The firm has a market cap of $8.61 billion, a P/E ratio of 14.65 and a beta of 1.03. The stock has a fifty day moving average of $75.26 and a two-hundred day moving average of $79.64.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The business had revenue of $1 billion during 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 firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's payout ratio is currently 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.