HWG Holdings LP trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,462 shares of the industrial products company's stock after selling 27,863 shares during the period. HWG Holdings LP's holdings in Mueller Industries were worth $2,100,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of MLI. Barclays PLC increased its holdings in Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after acquiring an additional 152,780 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Mueller Industries by 19.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company's stock valued at $323,000 after acquiring an additional 652 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $287,000. Atomi Financial Group Inc. boosted its position in shares of Mueller Industries by 9.5% during the 4th quarter. Atomi Financial Group Inc. now owns 4,315 shares of the industrial products company's stock valued at $342,000 after acquiring an additional 374 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Mueller Industries by 15.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 42,922 shares of the industrial products company's stock valued at $3,406,000 after acquiring an additional 5,767 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.
Mueller Industries Stock Performance
Shares of MLI stock traded down $0.02 on Friday, hitting $77.92. 1,052,776 shares of the stock traded hands, compared to its average volume of 939,885. The firm's 50-day moving average price is $74.84 and its two-hundred day moving average price is $78.93. The stock has a market capitalization of $8.62 billion, a PE ratio of 14.67 and a beta of 1.03. 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 announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion.
Mueller Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. Mueller Industries's payout ratio is currently 18.21%.
Insider Buying and Selling at Mueller Industries
In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the transaction, the director now owns 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Terry Hermanson sold 10,000 shares of the company'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 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 have sold 29,613 shares of company stock valued at $2,198,600 over the last 90 days. 2.70% of the stock is owned by insiders.
About Mueller Industries
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Free Report)
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.
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