Two Sigma Advisers LP Sells 3,500 Shares of Mueller Industries, Inc. (NYSE:MLI)

Two Sigma Advisers LP cut its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,200 shares of the industrial products company's stock after selling 3,500 shares during the period. Two Sigma Advisers LP's holdings in Mueller Industries were worth $2,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries in the 4th quarter worth approximately $201,376,000. Norges Bank bought a new stake in Mueller Industries during the fourth quarter worth approximately $117,351,000. Invesco Ltd. grew its position in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after buying an additional 933,498 shares during the last quarter. FMR LLC increased its holdings in shares of 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 buying an additional 845,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Mueller Industries by 169.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after buying an additional 665,413 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Down 0.7%

Shares of Mueller Industries stock traded down $0.52 during trading on Monday, hitting $77.35. The stock had a trading volume of 691,682 shares, compared to its average volume of 939,889. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The stock has a 50 day simple moving average of $74.80 and a 200 day simple moving average of $78.68. The company has a market capitalization of $8.56 billion, a PE ratio of 14.57 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.29%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

Insider Activity

In related news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 now owns 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock worth $2,198,600 in the last 90 days. Company insiders own 2.70% of the company's stock.

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.