New Vernon Capital Holdings II LLC Sells 3,769 Shares of Mueller Industries, Inc. (NYSE:MLI)

New Vernon Capital Holdings II LLC decreased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 35.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,834 shares of the industrial products company's stock after selling 3,769 shares during the quarter. Mueller Industries makes up approximately 0.3% of New Vernon Capital Holdings II LLC's portfolio, making the stock its 23rd largest holding. New Vernon Capital Holdings II LLC's holdings in Mueller Industries were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC acquired a new stake in Mueller Industries during the fourth quarter worth $201,376,000. Norges Bank acquired a new stake in shares of Mueller Industries during the 4th quarter worth about $117,351,000. Invesco Ltd. lifted its holdings in Mueller Industries by 50.3% during the 4th 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 last quarter. FMR LLC boosted its position in 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, First Trust Advisors LP grew its stake in Mueller Industries by 5.6% during the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after buying an additional 327,479 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

Shares of NYSE MLI traded down $0.05 during mid-day trading on Wednesday, hitting $72.78. 224,957 shares of the stock were exchanged, compared to its average volume of 923,672. The company has a market cap of $8.05 billion, a P/E ratio of 13.71 and a beta of 0.96. The stock's fifty day simple moving average is $76.27 and its two-hundred day simple moving average is $79.86. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81.

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 company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is currently 18.21%.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 16,483 shares of the firm's 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 now owns 39,615 shares of the company's stock, valued at $2,910,117.90. This trade represents a 29.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

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.