Mueller Industries, Inc. (NYSE:MLI) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 21.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,916,661 shares of the industrial products company's stock after selling 511,198 shares during the quarter. LSV Asset Management owned about 1.73% of Mueller Industries worth $145,935,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. First Trust Advisors LP raised its holdings in shares of Mueller Industries by 5.6% during the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after acquiring an additional 327,479 shares during the period. Invesco Ltd. increased its position in Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares during the last quarter. Geode Capital Management LLC raised its stake in Mueller Industries by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock worth $214,763,000 after purchasing an additional 117,327 shares during the period. FMR LLC boosted its holdings in Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Mueller Industries by 28.3% in the 4th quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after purchasing an additional 338,902 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Activity

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of Mueller Industries 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 sale, the director directly owned 100,082 shares in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 3,130 shares of the business'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 directly owned 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 disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $83.36 on Friday. The company has a 50 day simple moving average of $80.86 and a 200-day simple moving average of $78.66. The company has a market capitalization of $9.23 billion, a P/E ratio of 13.23 and a beta of 1.02. Mueller Industries, Inc. has a 1 year low of $62.74 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 5th. Mueller Industries's payout ratio is 15.87%.

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.

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