Mueller Industries, Inc. (NYSE:MLI) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,895,263 shares of the industrial products company’s stock after selling 3,233 shares during the period. American Century Companies Inc.’s holdings in Mueller Industries were worth $150,408,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth about $201,376,000. Charles Schwab Investment Management Inc. raised its position in shares of Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after purchasing an additional 315,490 shares during the last quarter. FMR LLC raised its position in shares of Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after purchasing an additional 27,399 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Mueller Industries by 1.6% during the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock worth $69,605,000 after purchasing an additional 14,729 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on 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 $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 2.8 %

Shares of NYSE MLI opened at $77.34 on Friday. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The stock has a market cap of $8.76 billion, a PE ratio of 14.56 and a beta of 0.99. The company has a 50-day moving average of $80.18 and a 200 day moving average of $79.31.

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

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is currently 18.83%.

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, December 11th.

About Mueller Industries

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.