OMERS ADMINISTRATION Corp Sells 21,733 Shares of Mueller Industries, Inc. (NYSE:MLI)

OMERS ADMINISTRATION Corp lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 63.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,267 shares of the industrial products company's stock after selling 21,733 shares during the period. OMERS ADMINISTRATION Corp's holdings in Mueller Industries were worth $974,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in Mueller Industries by 5.6% during the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after buying an additional 327,479 shares during the last quarter. Invesco Ltd. raised its holdings 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 buying an additional 933,498 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Mueller Industries during the fourth quarter worth $201,376,000. Finally, FMR LLC raised its holdings in Mueller Industries by 79.2% during the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after buying an additional 845,031 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Down 0.3%

MLI traded down $0.24 during trading on Friday, hitting $75.86. 628,638 shares of the company's stock were exchanged, compared to its average volume of 935,721. The business's 50 day moving average is $75.03 and its two-hundred day moving average is $79.51. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81. The stock has a market cap of $8.39 billion, a P/E ratio of 14.29 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping 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 the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

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 1.32%. Mueller Industries's dividend payout ratio is currently 18.21%.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the transaction, the director now directly owns 39,615 shares of the company's stock, valued at $2,910,117.90. This represents a 29.38% 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 John B. Hansen sold 3,130 shares of the 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 transaction, the director now directly 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 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 ninety days. Corporate insiders own 2.70% of the company's stock.

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.