Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its position 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 24,012 shares of the industrial products company's stock after selling 3,224 shares during the quarter. Gotham Asset Management LLC's holdings in Mueller Industries were worth $1,906,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth $300,000. Merit Financial Group LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $287,000. Rhumbline Advisers increased its position in shares of Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after acquiring an additional 43,893 shares during the period. US Bancorp DE increased its position in shares of Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock valued at $1,451,000 after acquiring an additional 537 shares during the period. Finally, Congress Asset Management Co. raised its stake in Mueller Industries by 6.5% in the 4th quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock worth $16,081,000 after acquiring an additional 12,450 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on 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 transaction, the director now directly owns 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,613 shares of company stock worth $2,198,600. Insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

Mueller Industries stock traded down $1.55 during trading hours on Thursday, hitting $75.87. 75,762 shares of the stock traded hands, compared to its average volume of 853,588. The firm's 50 day moving average price is $75.21 and its 200-day moving average price is $79.62. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 14.29 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. Mueller Industries's dividend payout ratio is presently 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.