SageView Advisory Group LLC Lowers Holdings in Mueller Industries, Inc. (NYSE:MLI)

SageView Advisory Group LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,854 shares of the industrial products company’s stock after selling 1,573 shares during the period. SageView Advisory Group LLC’s holdings in Mueller Industries were worth $782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MLI. Flagship Harbor Advisors LLC purchased a new position in Mueller Industries during the fourth quarter valued at approximately $300,000. Merit Financial Group LLC purchased a new position in shares of Mueller Industries during the 4th quarter valued at approximately $287,000. Rhumbline Advisers lifted its stake in shares of Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock valued at $28,895,000 after purchasing an additional 43,893 shares during the period. US Bancorp DE boosted its holdings in Mueller Industries by 3.0% during the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock worth $1,451,000 after buying an additional 537 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company’s stock valued at $16,081,000 after buying an additional 12,450 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $73.82 on Tuesday. The firm has a 50-day simple moving average of $78.27 and a two-hundred day simple moving average of $79.95. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The company has a market cap of $8.18 billion, a P/E ratio of 13.90 and a beta of 0.96.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Mueller Industries’s payout ratio is currently 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Mueller Industries Company Profile

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.