Yorktown Management & Research Co Inc lowered its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 25.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,450 shares of the industrial products company's stock after selling 5,040 shares during the quarter. Mueller Industries comprises 1.2% of Yorktown Management & Research Co Inc's investment portfolio, making the stock its 5th biggest holding. Yorktown Management & Research Co Inc's holdings in Mueller Industries were worth $1,100,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP increased its stake in Mueller Industries by 5.6% in the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after purchasing an additional 327,479 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after buying an additional 933,498 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after buying an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Mueller Industries during the 4th quarter worth $201,376,000. Finally, FMR LLC lifted its position in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after acquiring 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 Performance
NYSE MLI traded down $0.33 during trading hours on Wednesday, hitting $77.20. The company had a trading volume of 750,428 shares, compared to its average volume of 969,831. The business has a 50 day moving average of $75.44 and a 200-day moving average of $77.87. The company has a market cap of $8.54 billion, a PE ratio of 14.06 and a beta of 1.03. Mueller Industries, Inc. has a 1-year low of $55.20 and a 1-year high of $96.81.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.
Mueller Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.
Insider Buying and Selling at Mueller Industries
In related news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director now owns 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 3,130 shares of the company'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 value of $244,359.10. Following the sale, the director now directly owns 93,914 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by company insiders.
About Mueller Industries
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Free Report)
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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