Mutual of America Capital Management LLC Sells 43,084 Shares of Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 13.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 280,044 shares of the industrial products company’s stock after selling 43,084 shares during the period. Mutual of America Capital Management LLC owned approximately 0.25% of Mueller Industries worth $15,946,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Miller Howard Investments Inc. NY grew its position in Mueller Industries by 2.1% in the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 151 shares during the last quarter. Summit Global Investments grew its position in Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 204 shares during the last quarter. CWM LLC grew its position in Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. Burney Co. grew its position in Mueller Industries by 0.8% in the second quarter. Burney Co. now owns 29,652 shares of the industrial products company’s stock valued at $1,688,000 after acquiring an additional 236 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Mueller Industries by 0.7% in the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock valued at $1,771,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.0 %

NYSE:MLI opened at $71.23 on Wednesday. The stock has a market cap of $8.09 billion, a P/E ratio of 14.27 and a beta of 1.03. The stock’s 50-day moving average is $67.15 and its 200-day moving average is $59.45. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $72.83.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.12. The company had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is currently 16.03%.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the transaction, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,000 shares of company stock worth $7,081,770. Insiders own 2.80% 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.