Mueller Industries, Inc. (NYSE:MLI) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 82.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,531 shares of the industrial products company’s stock after selling 12,013 shares during the quarter. SG Americas Securities LLC’s holdings in Mueller Industries were worth $119,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates acquired a new stake in Mueller Industries during the 1st quarter worth about $379,000. HighTower Advisors LLC lifted its position in Mueller Industries by 18.7% during the 1st quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 693 shares during the period. Citigroup Inc. lifted its position in Mueller Industries by 9.4% during the 1st quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock worth $2,700,000 after acquiring an additional 4,289 shares during the period. Natixis Advisors L.P. lifted its position in Mueller Industries by 18.1% during the 1st quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock worth $646,000 after acquiring an additional 1,826 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Mueller Industries by 607.0% during the 1st quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 10,259 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $887,940. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Up 0.7 %

Shares of MLI stock opened at $52.32 on Friday. The stock has a market cap of $5.94 billion, a PE ratio of 9.84 and a beta of 1.08. The business has a 50-day simple moving average of $51.64 and a 200-day simple moving average of $46.19. Mueller Industries, Inc. has a 52-week low of $33.90 and a 52-week high of $54.64.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $732.38 million during the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s payout ratio is currently 15.05%.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

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.