Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Crestline Management LP

Crestline Management LP lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 63.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,763 shares of the industrial products company’s stock after selling 4,900 shares during the quarter. Crestline Management LP’s holdings in Mueller Industries were worth $219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the fourth quarter worth $32,000. Quarry LP acquired a new position in Mueller Industries during the fourth quarter worth $45,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries during the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the fourth quarter worth $53,000. Finally, City State Bank acquired a new position in Mueller Industries during the fourth quarter worth $58,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director now owns 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The sale 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 dated 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 now owns 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,483 shares of company stock worth $2,752,341 in the last quarter. 2.70% of the stock is owned by company insiders.

Mueller Industries Stock Up 0.1%

NYSE:MLI opened at $74.89 on Monday. Mueller Industries, Inc. has a 52 week low of $53.53 and a 52 week high of $96.81. The company has a market capitalization of $8.29 billion, a P/E ratio of 14.10 and a beta of 1.03. The stock’s fifty day moving average is $75.48 and its two-hundred day moving average is $79.80.

Mueller Industries (NYSE:MLI) last posted 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. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Mueller Industries’s dividend payout ratio is presently 18.21%.

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.