Man Group plc Sells 14,519 Shares of Mueller Industries, Inc. (NYSE:MLI)

Man Group plc reduced its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 199,493 shares of the industrial products company's stock after selling 14,519 shares during the period. Man Group plc owned 0.18% of Mueller Industries worth $15,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries in the fourth quarter valued at $32,000. Quarry LP acquired a new stake in Mueller Industries in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries in the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mueller Industries in the 4th quarter valued at about $53,000. Finally, R Squared Ltd acquired a new position in shares of Mueller Industries during the 4th quarter worth about $69,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Performance

NYSE:MLI traded down $0.25 during mid-day trading on Friday, hitting $75.85. The stock had a trading volume of 89,201 shares, compared to its average volume of 931,670. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 14.28 and a beta of 1.03. The company's 50 day simple moving average is $75.10 and its 200 day simple moving average is $79.57.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, June 6th. Mueller Industries's dividend payout ratio is 18.21%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director now directly owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 over the last ninety days. 2.70% of the stock is currently owned by company insiders.

About Mueller Industries

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.