Mutual of America Capital Management LLC Sells 57,566 Shares of Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 20.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,288 shares of the industrial products company's stock after selling 57,566 shares during the period. Mutual of America Capital Management LLC owned about 0.21% of Mueller Industries worth $17,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after buying an additional 168 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth $32,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries during the first quarter worth $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the first quarter worth $40,000. Finally, Quarry LP acquired a new position in shares of Mueller Industries during the fourth quarter worth $45,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Up 0.7%

Shares of MLI stock opened at $86.25 on Friday. The business's fifty day simple moving average is $78.08 and its 200-day simple moving average is $78.00. The company has a market cap of $9.54 billion, a PE ratio of 15.71 and a beta of 1.01. Mueller Industries, Inc. has a 12-month low of $60.35 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Announces Dividend

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is presently 18.21%.

Insider Transactions at Mueller Industries

In other news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director directly owned 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction 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 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. Over the last three months, insiders have sold 29,613 shares of company stock valued at $2,198,600. 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.

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