Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 832,064 shares of the industrial products company's stock after selling 161,199 shares during the quarter. Victory Capital Management Inc. owned about 0.75% of Mueller Industries worth $63,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Mueller Industries in the fourth quarter valued at about $117,351,000. Invesco Ltd. increased its holdings in shares of Mueller Industries by 50.3% in the fourth 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 boosted its stake 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 worth $151,712,000 after buying an additional 845,031 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Mueller Industries by 169.1% in the fourth 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 buying an additional 665,413 shares during the last quarter. Finally, SG Capital Management LLC purchased a new stake in shares of Mueller Industries in the fourth quarter worth about $34,704,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the stock in a transaction that occurred 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 owned 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred 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 sale, the director directly 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 disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock valued at $2,198,600 over the last quarter. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Down 1.5%

Shares of MLI traded down $1.30 during mid-day trading on Friday, reaching $84.52. The company had a trading volume of 790,668 shares, compared to its average volume of 1,050,478. Mueller Industries, Inc. has a 52-week low of $62.39 and a 52-week high of $96.81. The stock has a market capitalization of $9.35 billion, a P/E ratio of 15.40 and a beta of 1.01. The stock has a 50 day moving average of $79.15 and a two-hundred day moving average of $78.18.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. Mueller Industries's payout ratio is currently 18.21%.

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.