Mueller Industries, Inc. (MLI) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,488 shares of the industrial products company’s stock after selling 2,480 shares during the period. Pinebridge Investments L.P. owned 0.12% of Mueller Industries worth $2,117,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Neuberger Berman Group LLC lifted its holdings in Mueller Industries by 0.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,185,502 shares of the industrial products company’s stock worth $36,099,000 after purchasing an additional 4,832 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Mueller Industries by 34.0% during the 1st quarter. Bank of America Corp DE now owns 202,186 shares of the industrial products company’s stock worth $6,921,000 after acquiring an additional 51,294 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Mueller Industries during the 1st quarter worth approximately $486,000. Mason Street Advisors LLC raised its holdings in shares of Mueller Industries by 7.4% during the 1st quarter. Mason Street Advisors LLC now owns 13,470 shares of the industrial products company’s stock worth $461,000 after acquiring an additional 932 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Mueller Industries by 4.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 84,740 shares of the industrial products company’s stock worth $2,577,000 after acquiring an additional 3,420 shares in the last quarter. 91.12% of the stock is currently owned by institutional investors.
Separately, BidaskClub cut Mueller Industries from a “hold” rating to a “sell” rating in a report on Friday, August 18th.
In related news, CFO Jeffrey Andrew Martin sold 3,500 shares of Mueller Industries stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $32.01, for a total transaction of $112,035.00. Following the transaction, the chief financial officer now owns 111,146 shares in the company, valued at $3,557,783.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 2,000 shares of Mueller Industries stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $31.05, for a total value of $62,100.00. Following the transaction, the director now owns 45,607 shares in the company, valued at approximately $1,416,097.35. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.
Shares of Mueller Industries, Inc. (NYSE MLI) opened at 32.76 on Friday. The stock’s 50 day moving average price is $30.04 and its 200 day moving average price is $31.18. The stock has a market capitalization of $1.89 billion, a PE ratio of 18.71 and a beta of 1.38. Mueller Industries, Inc. has a one year low of $27.72 and a one year high of $43.96.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. Mueller Industries’s dividend payout ratio (DPR) is presently 22.86%.
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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