Pacer Advisors Inc. Decreases Position in Mueller Industries, Inc. (NYSE:MLI)

Pacer Advisors Inc. decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 59.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,669 shares of the industrial products company’s stock after selling 15,769 shares during the quarter. Pacer Advisors Inc.’s holdings in Mueller Industries were worth $812,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its stake in Mueller Industries by 5.6% in the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company’s stock valued at $493,217,000 after buying an additional 327,479 shares during the last quarter. Invesco Ltd. lifted its stake in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock valued at $221,304,000 after buying an additional 933,498 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mueller Industries by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock valued at $214,763,000 after buying an additional 117,327 shares during the last quarter. FMR LLC lifted its stake in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after buying an additional 845,031 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Mueller Industries by 28.3% in the fourth quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company’s stock valued at $121,867,000 after buying an additional 338,902 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Terry Hermanson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director owned 100,082 shares of the company’s stock, valued at $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Trading Down 0.5%

Shares of NYSE MLI opened at $87.51 on Thursday. Mueller Industries, Inc. has a twelve month low of $62.74 and a twelve month high of $96.81. The stock has a 50 day moving average of $80.52 and a two-hundred day moving average of $78.60. The stock has a market cap of $9.69 billion, a P/E ratio of 13.89 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.87%.

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.