Universal Beteiligungs und Servicegesellschaft mbH Sells 36,150 Shares of Mueller Industries, Inc. (NYSE:MLI)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Mueller Industries, Inc. by 29.1%, now holding approximately 87,999 shares valued at $6.70 million.
• Mueller Industries experienced significant transactions among hedge funds, with Norges Bank acquiring a new position worth about $117.35 million and Invesco Ltd. increasing its stake by 50.3% in the fourth quarter.
• The company announced a quarterly dividend of $0.25, representing a 1.13% yield, with a current dividend payout ratio of 15.87%.

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,999 shares of the industrial products company's stock after selling 36,150 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Mueller Industries worth $6,700,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its holdings in Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after acquiring an additional 168 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Mueller Industries by 5.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after buying an additional 187 shares during the period. Hohimer Wealth Management LLC increased its stake in Mueller Industries by 4.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after buying an additional 187 shares during the period. Texas Yale Capital Corp. increased its stake in Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock valued at $283,000 after buying an additional 200 shares during the period. Finally, Monument Capital Management grew its stake in shares of Mueller Industries by 4.4% in the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock worth $373,000 after purchasing an additional 206 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of MLI traded down $0.41 during mid-day trading on Wednesday, hitting $87.51. The company's stock had a trading volume of 1,225,077 shares, compared to its average volume of 922,723. The firm has a 50-day moving average price of $80.52 and a 200 day moving average price of $78.60. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.89 and a beta of 1.01. Mueller Industries, Inc. has a fifty-two week low of $62.74 and a fifty-two week high of $96.81.

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

Mueller Industries Announces Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is presently 15.87%.

Insider Buying and Selling

In related news, 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 transaction, the director owned 93,914 shares of the company's stock, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. 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 business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following 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. 2.70% of the stock is owned by 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.