Millennium Management LLC Cuts Stake in Mueller Industries, Inc. (NYSE:MLI)

Millennium Management LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 282,194 shares of the industrial products company's stock after selling 15,144 shares during the period. Millennium Management LLC owned approximately 0.25% of Mueller Industries worth $22,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mueller Industries by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company's stock valued at $67,087,000 after buying an additional 45,672 shares in the last quarter. Lazard Asset Management LLC grew its stake in Mueller Industries by 40.8% in the fourth quarter. Lazard Asset Management LLC now owns 55,096 shares of the industrial products company's stock valued at $4,371,000 after acquiring an additional 15,977 shares during the period. J. Goldman & Co LP bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $12,095,000. Jacobs Levy Equity Management Inc. raised its position in shares of Mueller Industries by 302.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 296,288 shares of the industrial products company's stock worth $23,513,000 after purchasing an additional 222,613 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Mueller Industries by 202.1% in the 4th quarter. Janus Henderson Group PLC now owns 438,348 shares of the industrial products company's stock worth $34,801,000 after purchasing an additional 293,245 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 100,082 shares of the company's stock, valued at $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now owns 93,914 shares in the company, valued at approximately $7,331,865.98. This trade represents a 3.23% 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 valued at $2,198,600. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Down 0.3%

NYSE MLI traded down $0.24 during mid-day trading on Monday, hitting $75.86. The company's stock had a trading volume of 628,638 shares, compared to its average volume of 937,603. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 14.29 and a beta of 1.03. The company's 50 day simple moving average is $74.92 and its 200 day simple moving average is $79.17. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81.

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, beating 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 16.05% and a return on equity of 22.97%.

Mueller Industries Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's dividend 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.