Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,378,306 shares of the industrial products company’s stock after selling 91,430 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Mueller Industries were worth $109,382,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. purchased a new position in Mueller Industries in the 3rd quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter valued at approximately $53,000. City State Bank purchased a new position in shares of Mueller Industries in the fourth quarter valued at approximately $58,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Mueller Industries in the third quarter worth approximately $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 3.3 %

MLI opened at $82.17 on Friday. Mueller Industries, Inc. has a twelve month low of $50.84 and a twelve month high of $96.81. The firm has a market capitalization of $9.31 billion, a PE ratio of 15.47 and a beta of 0.99. The firm’s 50-day moving average price is $80.14 and its 200 day moving average price is $78.66.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio is presently 18.83%.

Analyst Ratings Changes

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, December 11th.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

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.