Royce & Associates LP Sells 91,287 Shares of Mueller Industries, Inc. (NYSE:MLI)

Royce & Associates LP lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 14.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 532,155 shares of the industrial products company's stock after selling 91,287 shares during the quarter. Royce & Associates LP owned about 0.48% of Mueller Industries worth $40,518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Norges Bank bought a new stake in Mueller Industries during the 4th quarter valued at approximately $117,351,000. Invesco Ltd. raised its stake in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the period. FMR LLC grew its holdings in Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after buying an additional 845,031 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Mueller Industries by 169.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock worth $84,029,000 after acquiring an additional 665,413 shares during the last quarter. Finally, SG Capital Management LLC bought a new stake in Mueller Industries in the 4th quarter worth approximately $34,704,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

NYSE:MLI traded down $0.76 during trading hours on Monday, reaching $87.96. The stock had a trading volume of 950,045 shares, compared to its average volume of 1,028,759. Mueller Industries, Inc. has a 52 week low of $62.74 and a 52 week high of $96.81. The company has a 50 day moving average price of $79.92 and a two-hundred day moving average price of $78.40. The stock has a market capitalization of $9.74 billion, a PE ratio of 13.96 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is 15.87%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, 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 value of $244,359.10. Following the transaction, the director 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director directly owned 100,082 shares in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is currently owned by company insiders.

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.