Voya Investment Management LLC cut its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,235 shares of the industrial products company's stock after selling 11,172 shares during the quarter. Voya Investment Management LLC's holdings in Mueller Industries were worth $2,638,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System lifted its position in Mueller Industries by 0.5% during the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after acquiring an additional 170 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after acquiring an additional 174 shares during the last quarter. Caprock Group LLC boosted its holdings in Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock valued at $674,000 after purchasing an additional 194 shares during the last quarter. Texas Yale Capital Corp. raised its position in shares of Mueller Industries by 6.0% in the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock valued at $283,000 after purchasing an additional 200 shares in the last quarter. Finally, Kestra Investment Management LLC boosted its stake in shares of Mueller Industries by 7.7% during the 4th quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company's stock valued at $242,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.
Insider Buying and Selling
In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the 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 directly owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This represents a 29.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.
Mueller Industries Stock Performance
Shares of MLI stock traded up $0.23 during mid-day trading on Wednesday, reaching $74.04. 241,613 shares of the company were exchanged, compared to its average volume of 924,087. The company has a market capitalization of $8.19 billion, a P/E ratio of 13.94 and a beta of 1.03. The business's 50 day simple moving average is $75.77 and its 200 day simple moving average is $79.89. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The business 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 Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. Mueller Industries's payout ratio is 18.21%.
About Mueller Industries
(
Free Report)
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.
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