Rockefeller Capital Management L.P. Sells 553,111 Shares of Mueller Industries, Inc. (NYSE:MLI)

Rockefeller Capital Management L.P. lessened its position in Mueller Industries, Inc. (NYSE:MLI) by 39.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 866,903 shares of the industrial products company’s stock after selling 553,111 shares during the period. Rockefeller Capital Management L.P. owned 0.76% of Mueller Industries worth $64,217,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its holdings in shares of Mueller Industries by 11.2% during the third quarter. Glenmede Trust Co. NA now owns 19,617 shares of the industrial products company’s stock worth $1,454,000 after purchasing an additional 1,976 shares during the period. Cynosure Group LLC acquired a new position in Mueller Industries during the 3rd quarter worth about $374,000. Townsquare Capital LLC bought a new stake in shares of Mueller Industries in the 3rd quarter valued at about $381,000. BNP Paribas Financial Markets increased its stake in shares of Mueller Industries by 9.1% in the third quarter. BNP Paribas Financial Markets now owns 74,834 shares of the industrial products company’s stock valued at $5,545,000 after buying an additional 6,243 shares during the period. Finally, FMR LLC raised its position in shares of Mueller Industries by 2.6% during the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after acquiring an additional 27,399 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Activity at Mueller Industries

In related 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 transaction of $83,090.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

Shares of MLI stock opened at $80.84 on Friday. The stock has a market capitalization of $9.19 billion, a PE ratio of 15.70 and a beta of 1.01. The business’s 50 day simple moving average is $80.37 and its 200 day simple moving average is $68.92. Mueller Industries, Inc. has a one year low of $40.69 and a one year high of $96.81.

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

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio 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.