Amalgamated Bank Sells 1,900 Shares of Mueller Industries, Inc. (NYSE:MLI)

Amalgamated Bank lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,993 shares of the industrial products company’s stock after selling 1,900 shares during the period. Amalgamated Bank’s holdings in Mueller Industries were worth $3,806,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MLI. Golden State Wealth Management LLC boosted its holdings in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 168 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Mueller Industries in the fourth quarter valued at $32,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the first quarter valued at $40,000. Quarry LP bought a new stake in Mueller Industries in the fourth quarter valued at $45,000. Finally, SBI Securities Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at $47,000. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In other news, Director Terry Hermanson sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director owned 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 3,130 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director owned 93,914 shares in the company, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Up 0.9%

NYSE:MLI opened at $83.87 on Friday. The stock has a market cap of $9.28 billion, a P/E ratio of 15.28 and a beta of 1.01. The firm’s fifty day simple moving average is $76.79 and its 200 day simple moving average is $77.84. Mueller Industries, Inc. has a twelve month low of $55.72 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.21%.

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.