Bridgewater Advisors Inc. Reduces Position in Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Advisors Inc. lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,354 shares of the industrial products company’s stock after selling 1,396 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Mueller Industries were worth $3,740,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MLI. First Trust Advisors LP increased its holdings in shares of Mueller Industries by 5.6% during 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 acquiring an additional 327,479 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock worth $221,304,000 after buying an additional 933,498 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Mueller Industries by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock valued at $214,763,000 after purchasing an additional 117,327 shares during the period. William Blair Investment Management LLC purchased a new stake in Mueller Industries during the fourth quarter valued at approximately $201,376,000. Finally, FMR LLC lifted its position in shares of Mueller Industries by 79.2% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 0.5%

Mueller Industries stock opened at $85.93 on Tuesday. Mueller Industries, Inc. has a 12-month low of $60.35 and a 12-month high of $96.81. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.65 and a beta of 1.01. The firm has a 50 day moving average of $78.08 and a 200 day moving average of $77.98.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Mueller Industries’s dividend payout ratio is currently 18.21%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the business’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 completion of the sale, the director owned 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,613 shares of company stock worth $2,198,600. Insiders own 2.70% of the company’s stock.

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.