Pacer Advisors Inc. Trims Position in Mueller Industries, Inc. (NYSE:MLI)

Pacer Advisors Inc. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 59.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,669 shares of the industrial products company's stock after selling 15,769 shares during the period. Pacer Advisors Inc.'s holdings in Mueller Industries were worth $812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MLI. Golden State Wealth Management LLC increased its holdings in Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $32,000. Wayfinding Financial LLC bought a new position in shares of Mueller Industries during the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the first quarter worth $40,000. Finally, Quarry LP bought a new stake in Mueller Industries in the fourth quarter valued at $45,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In related news, Director Terry Hermanson sold 10,000 shares of Mueller Industries 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 directly owned 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was 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 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 own 2.70% of the company's stock.

Mueller Industries Price Performance

Mueller Industries stock traded down $2.01 during mid-day trading on Friday, reaching $83.36. 1,050,374 shares of the company traded hands, compared to its average volume of 963,215. Mueller Industries, Inc. has a 52-week low of $62.74 and a 52-week high of $96.81. The firm's 50 day moving average price is $80.86 and its 200 day moving average price is $78.64. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 13.23 and a beta of 1.02.

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

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.25 per share. 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%.

Mueller Industries 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.