Victory Capital Management Inc. Sells 3,510 Shares of Mueller Industries, Inc. (MLI)
Victory Capital Management Inc. cut its position in Mueller Industries, Inc. (NYSE:MLI) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,103,451 shares of the industrial products company’s stock after selling 3,510 shares during the period. Victory Capital Management Inc. owned about 1.91% of Mueller Industries worth $33,600,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Karp Capital Management Corp bought a new stake in shares of Mueller Industries during the first quarter valued at $451,000. UBS Asset Management Americas Inc. increased its stake in shares of Mueller Industries by 4.4% in the first quarter. UBS Asset Management Americas Inc. now owns 20,541 shares of the industrial products company’s stock valued at $703,000 after buying an additional 862 shares in the last quarter. Swiss National Bank increased its stake in shares of Mueller Industries by 1.4% in the first quarter. Swiss National Bank now owns 89,800 shares of the industrial products company’s stock valued at $3,074,000 after buying an additional 1,200 shares in the last quarter. Comerica Bank increased its stake in shares of Mueller Industries by 4.6% in the first quarter. Comerica Bank now owns 63,813 shares of the industrial products company’s stock valued at $2,078,000 after buying an additional 2,831 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Mueller Industries by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 807,005 shares of the industrial products company’s stock valued at $27,622,000 after buying an additional 19,980 shares in the last quarter. Institutional investors own 91.13% of the company’s stock.
Shares of Mueller Industries, Inc. (MLI) opened at 29.83 on Friday. The stock has a market cap of $1.72 billion, a P/E ratio of 17.04 and a beta of 1.37. Mueller Industries, Inc. has a 12 month low of $27.72 and a 12 month high of $43.96. The stock’s 50 day moving average is $30.11 and its 200 day moving average is $32.37.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, August 31st. Mueller Industries’s payout ratio is currently 22.86%.
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Separately, BidaskClub downgraded shares of Mueller Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 18th.
In other news, Director John B. Hansen sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $31.05, for a total transaction of $62,100.00. Following the completion of the sale, the director now owns 45,607 shares of the company’s stock, valued at $1,416,097.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.79% of the stock is currently owned by company insiders.
Mueller Industries Company Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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