Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in Mueller Industries, Inc. (NYSE:MLI) by 14.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,543 shares of the industrial products company’s stock after selling 40,501 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.21% of Mueller Industries worth $17,750,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Archer Investment Corp raised its holdings in shares of Mueller Industries by 29.4% in the third quarter. Archer Investment Corp now owns 2,200 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 500 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Mueller Industries in the third quarter worth $243,000. KBC Group NV raised its holdings in shares of Mueller Industries by 12.9% in the third quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 318 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Mueller Industries in the third quarter worth $320,000. Finally, Barnett & Company Inc. raised its holdings in shares of Mueller Industries by 181.8% in the third quarter. Barnett & Company Inc. now owns 13,950 shares of the industrial products company’s stock worth $1,034,000 after acquiring an additional 9,000 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 1.6 %

NYSE MLI opened at $88.68 on Friday. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 17.22 and a beta of 1.01. The business has a fifty day moving average of $77.35 and a 200-day moving average of $67.20. Mueller Industries, Inc. has a fifty-two week low of $40.43 and a fifty-two week high of $96.81.

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

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.90%. Mueller Industries’s payout ratio is currently 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.