Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. lowered its position in Mueller Industries, Inc. (NYSE:MLI) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 52,750 shares of the industrial products company’s stock after selling 3,523 shares during the period. Bridgewater Advisors Inc.’s holdings in Mueller Industries were worth $4,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLI. Federated Hermes Inc. purchased a new position in shares of Mueller Industries in the 2nd quarter valued at about $28,000. Massachusetts Financial Services Co. MA lifted its position in shares of Mueller Industries by 1,124.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after acquiring an additional 90,841 shares during the period. Renaissance Technologies LLC increased its position in Mueller Industries by 270.7% during the second quarter. Renaissance Technologies LLC now owns 55,600 shares of the industrial products company’s stock worth $3,166,000 after buying an additional 40,600 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Mueller Industries by 7.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 84,474 shares of the industrial products company’s stock valued at $4,810,000 after buying an additional 5,623 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Mueller Industries by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,114 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 895 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.2 %

NYSE:MLI opened at $81.98 on Monday. Mueller Industries, Inc. has a twelve month low of $45.20 and a twelve month high of $96.81. The firm has a market capitalization of $9.32 billion, a P/E ratio of 15.92 and a beta of 1.00. The company has a fifty day moving average of $82.57 and a 200-day moving average of $75.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results 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. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. Mueller Industries’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares in the company, valued at approximately $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 insiders.

Analyst Upgrades and Downgrades

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

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.