O Shaughnessy Asset Management LLC Cuts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

O Shaughnessy Asset Management LLC reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 174,686 shares of the industrial products company’s stock after selling 4,715 shares during the period. O Shaughnessy Asset Management LLC owned about 0.15% of Mueller Industries worth $13,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Age Alpha Advisors LLC purchased a new position in shares of Mueller Industries in the fourth quarter worth $32,000. Westside Investment Management Inc. bought a new position in Mueller Industries during the 3rd quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Mueller Industries during the 4th quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the fourth quarter worth approximately $53,000. Finally, City State Bank purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $58,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

Shares of MLI opened at $76.58 on Monday. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The business has a fifty day moving average of $79.92 and a 200 day moving average of $79.80.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.31%. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Company 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.