Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.5% in the 1st quarter, Holdings Channel.com reports. 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 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Larson Financial Group LLC grew its position in Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $30,000. Montag A & Associates Inc. purchased a new stake in Mueller Industries during the 4th quarter worth approximately $34,000. Finally, LifeSteps Financial Inc. acquired a new stake in Mueller Industries during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In related news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the sale, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the sale, the director now owns 24,733 shares in the company, valued at $1,427,836.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,169 shares of company stock worth $3,506,762. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded down $0.26 during trading hours on Friday, reaching $56.57. 106,926 shares of the company were exchanged, compared to its average volume of 674,303. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $60.31. The firm has a market cap of $6.43 billion, a PE ratio of 11.24 and a beta of 1.06. The stock’s fifty day moving average is $57.07 and its 200 day moving average is $52.44.

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

Mueller Industries Dividend Announcement

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

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.