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

Mutual of America Capital Management LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 20.2% in the 1st quarter, according to its most recent Form 13F filing 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 approximately 0.21% of Mueller Industries worth $17,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MLI. Golden State Wealth Management LLC grew its position in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC bought a new stake in Mueller Industries in the 4th quarter worth approximately $32,000. Wayfinding Financial LLC bought a new stake in Mueller Industries in the 1st quarter worth approximately $34,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the 1st quarter worth approximately $40,000. Finally, Quarry LP bought a new stake in Mueller Industries in the 4th quarter worth approximately $45,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Up 0.4%

NYSE:MLI traded up $0.31 during trading hours on Wednesday, reaching $84.90. The company had a trading volume of 756,008 shares, compared to its average volume of 1,046,120. Mueller Industries, Inc. has a 52 week low of $61.48 and a 52 week high of $96.81. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 15.47 and a beta of 1.01. The firm's 50 day moving average price is $78.51 and its 200-day moving average price is $78.06.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data 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. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently disclosed 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 1.18%. The ex-dividend date was Friday, June 6th. Mueller Industries's payout ratio is 18.21%.

Insider Activity

In related news, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the transaction, the director owned 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 in the last 90 days. Company 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.