Los Angeles Capital Management LLC Sells 3,172 Shares of Mueller Industries, Inc. (NYSE:MLI)

Los Angeles Capital Management LLC decreased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,341 shares of the industrial products company's stock after selling 3,172 shares during the period. Los Angeles Capital Management LLC owned about 0.06% of Mueller Industries worth $5,280,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in Mueller Industries by 12.5% in the 1st quarter. Private Advisor Group LLC now owns 5,939 shares of the industrial products company's stock valued at $452,000 after acquiring an additional 662 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Mueller Industries in the 1st quarter valued at approximately $76,000. Capital A Wealth Management LLC raised its holdings in Mueller Industries by 164,000.0% in the 1st quarter. Capital A Wealth Management LLC now owns 1,641 shares of the industrial products company's stock valued at $125,000 after acquiring an additional 1,640 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in Mueller Industries by 4.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 187 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Mueller Industries in the 1st quarter valued at approximately $3,202,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Buying and Selling

In related news, Director John B. Hansen sold 3,130 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director directly owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director owned 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock worth $2,198,600 in the last three months. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Up 0.2%

Mueller Industries stock traded up $0.17 during trading hours on Friday, hitting $88.47. The stock had a trading volume of 240,819 shares, compared to its average volume of 1,024,764. Mueller Industries, Inc. has a fifty-two week low of $62.74 and a fifty-two week high of $96.81. The company has a market cap of $9.79 billion, a PE ratio of 14.04 and a beta of 1.01. The company has a 50-day moving average of $79.55 and a two-hundred day moving average of $78.30.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The firm's quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Mueller Industries's dividend payout ratio is currently 15.87%.

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.