Mueller Industries, Inc. (NYSE:MLI) Shares Sold by HWG Holdings LP

HWG Holdings LP lowered its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 51.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,462 shares of the industrial products company's stock after selling 27,863 shares during the quarter. 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 have also added to or reduced their stakes in MLI. Arizona State Retirement System raised its holdings in shares of 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 acquiring an additional 170 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after purchasing an additional 174 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Mueller Industries by 5.0% during 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 in the last quarter. Caprock Group LLC lifted its holdings in shares of Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock valued at $674,000 after purchasing an additional 194 shares in the last quarter. Finally, Texas Yale Capital Corp. lifted its stake in Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock valued at $283,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded up $0.85 during trading hours on Thursday, hitting $77.91. The stock had a trading volume of 653,330 shares, compared to its average volume of 938,464. The firm 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 12 month low of $53.53 and a 12 month high of $96.81. The stock has a fifty day moving average price of $74.89 and a 200 day moving average price of $79.15.

Mueller Industries (NYSE:MLI - Get Free Report) last released its 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 return on equity of 22.97% and a net margin of 16.05%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Mueller Industries's dividend payout ratio (DPR) is 18.21%.

Insider Activity

In other news, Director Terry Hermanson sold 10,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director now owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This represents a 9.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. The trade was 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 worth $2,198,600. 2.70% of the stock is currently owned by insiders.

Mueller Industries Company 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.