Mueller Industries, Inc. (NYSE:MLI) Stake Trimmed by Seizert Capital Partners LLC

Seizert Capital Partners LLC decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 31.7% in the third quarter, HoldingsChannel reports. The firm owned 145,741 shares of the industrial products company’s stock after selling 67,561 shares during the period. Seizert Capital Partners LLC’s holdings in Mueller Industries were worth $10,799,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MLI. LSV Asset Management lifted its position in shares of Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after purchasing an additional 641,114 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Mueller Industries during the 3rd quarter valued at about $35,552,000. F M Investments LLC bought a new stake in shares of Mueller Industries in the 2nd quarter valued at approximately $14,441,000. Massachusetts Financial Services Co. MA increased its holdings in Mueller Industries by 1,124.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock worth $5,633,000 after buying an additional 90,841 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Mueller Industries by 163.6% during the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock valued at $6,790,000 after acquiring an additional 73,567 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Down 1.6 %

NYSE MLI opened at $88.68 on Friday. The stock has a market capitalization of $10.09 billion, a PE ratio of 17.22 and a beta of 1.01. Mueller Industries, Inc. has a 12-month low of $40.43 and a 12-month high of $96.81. The company has a 50 day moving average price of $77.35 and a two-hundred day moving average price of $67.20.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio is 15.53%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

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.