Seizert Capital Partners LLC Cuts Position in Mueller Industries, Inc. (NYSE:MLI)

Seizert Capital Partners LLC decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 21.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 57,020 shares of the industrial products company's stock after selling 15,823 shares during the period. Seizert Capital Partners LLC owned approximately 0.05% of Mueller Industries worth $4,342,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. D.A. Davidson & CO. bought a new position in shares of Mueller Industries in the 1st quarter valued at about $317,000. Fifth Third Bancorp lifted its stake in Mueller Industries by 6.1% in the 1st quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock valued at $282,000 after purchasing an additional 213 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Mueller Industries during the first quarter worth approximately $303,000. Chevy Chase Trust Holdings LLC acquired a new stake in Mueller Industries during the first quarter worth approximately $4,140,000. Finally, KBC Group NV lifted its position in Mueller Industries by 391.3% during the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock worth $1,567,000 after acquiring an additional 16,387 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Down 2.4%

Shares of MLI traded down $2.01 during mid-day trading on Friday, hitting $83.36. 1,050,374 shares of the company's stock were exchanged, compared to its average volume of 963,215. The stock's 50-day simple moving average is $80.86 and its 200-day simple moving average is $78.66. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 13.23 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $62.74 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company's revenue 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. Stockholders of record on Friday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Mueller Industries's payout ratio is presently 15.87%.

Insider Activity

In other news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction dated 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. The trade was 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 Company 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.