Commonwealth Equity Services LLC Cuts Position in Mueller Industries, Inc. (NYSE:MLI)

Commonwealth Equity Services LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,564 shares of the industrial products company’s stock after selling 246 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Mueller Industries were worth $2,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 223 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC raised its position in shares of Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after buying an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new stake in shares of Mueller Industries during the 3rd quarter valued at about $30,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Mueller Industries by 51.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,373 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 466 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

MLI traded down $0.26 on Friday, reaching $56.57. The company had a trading volume of 106,926 shares, compared to its average volume of 674,303. The business has a 50 day simple moving average of $57.07 and a 200 day simple moving average of $52.44. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 11.24 and a beta of 1.06. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $60.31.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter. The business had revenue of $849.65 million for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Activity at Mueller Industries

In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the sale, the chief financial officer now owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the transaction, the chief financial officer now directly owns 313,529 shares in the company, valued at $17,949,535.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the sale, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The disclosure for this sale can be found here. Insiders sold a total of 61,169 shares of company stock worth $3,506,762 over the last quarter. 2.80% of the stock is owned by corporate 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.