UMB Bank n.a. Decreases Stake in Mueller Industries, Inc. (NYSE:MLI)

UMB Bank n.a. lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,088 shares of the industrial products company’s stock after selling 550 shares during the quarter. UMB Bank n.a.’s holdings in Mueller Industries were worth $347,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MLI. Vanguard Group Inc. grew its holdings in shares of Mueller Industries by 100.0% during the 4th quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock worth $579,945,000 after purchasing an additional 6,150,358 shares during the period. First Trust Advisors LP boosted its holdings in Mueller Industries by 94.5% in the 4th quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock worth $264,920,000 after acquiring an additional 2,729,382 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Mueller Industries by 97.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,172,082 shares of the industrial products company’s stock worth $196,718,000 after acquiring an additional 2,055,506 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Mueller Industries by 93.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after acquiring an additional 1,855,637 shares during the period. Finally, Norges Bank purchased a new position in Mueller Industries in the 4th quarter worth approximately $59,606,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock worth $7,081,770 in the last three months. 2.80% of the stock is owned by insiders.

Mueller Industries Price Performance

NYSE MLI traded up $1.35 on Friday, reaching $72.71. The company had a trading volume of 602,008 shares, compared to its average volume of 685,217. The firm has a 50-day moving average of $64.22 and a 200-day moving average of $57.72. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $72.82. The firm has a market capitalization of $8.26 billion, a PE ratio of 14.43 and a beta of 1.06.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.12. The business had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. Mueller Industries’s payout ratio is currently 16.03%.

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.