Mutual of America Capital Management LLC Lowers Stake in Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.5% in the third quarter, Holdings Channel.com reports. The fund owned 239,543 shares of the industrial products company’s stock after selling 40,501 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Mueller Industries were worth $17,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in shares of Mueller Industries by 262.5% in the first quarter. SG Americas Securities LLC now owns 9,176 shares of the industrial products company’s stock worth $495,000 after buying an additional 6,645 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Mueller Industries by 21.8% in the first quarter. Avantax Advisory Services Inc. now owns 8,758 shares of the industrial products company’s stock worth $472,000 after buying an additional 1,568 shares during the period. ProShare Advisors LLC boosted its position in shares of Mueller Industries by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,639 shares of the industrial products company’s stock worth $1,221,000 after buying an additional 1,554 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Mueller Industries by 0.7% in the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock worth $1,771,000 after buying an additional 240 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Mueller Industries by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after buying an additional 59,060 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The trade was a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $88.68 on Friday. Mueller Industries, Inc. has a 1-year low of $40.43 and a 1-year high of $96.81. The business has a 50-day moving average of $77.35 and a 200-day moving average of $67.20. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 17.22 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The company’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

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.