Mueller Industries, Inc. (MLI) Stake Lowered by Alliancebernstein L.P.
Alliancebernstein L.P. cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,735 shares of the industrial products company’s stock after selling 4,528 shares during the quarter. Alliancebernstein L.P. owned 0.20% of Mueller Industries worth $3,555,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Neuberger Berman Group LLC increased its position in shares of Mueller Industries by 0.4% in the second quarter. Neuberger Berman Group LLC now owns 1,185,502 shares of the industrial products company’s stock valued at $36,099,000 after buying an additional 4,832 shares in the last quarter. Bank of America Corp DE increased its position in shares of Mueller Industries by 34.0% during the first quarter. Bank of America Corp DE now owns 202,186 shares of the industrial products company’s stock worth $6,921,000 after purchasing an additional 51,294 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Mueller Industries during the first quarter worth approximately $486,000. Mason Street Advisors LLC increased its position in shares of Mueller Industries by 7.4% during the first quarter. Mason Street Advisors LLC now owns 13,470 shares of the industrial products company’s stock worth $461,000 after purchasing an additional 932 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Mueller Industries by 4.2% during the second quarter. Great West Life Assurance Co. Can now owns 84,740 shares of the industrial products company’s stock worth $2,577,000 after purchasing an additional 3,420 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.
Shares of Mueller Industries, Inc. (NYSE:MLI) opened at 35.31 on Friday. The company’s 50 day moving average price is $31.53 and its 200 day moving average price is $31.10. Mueller Industries, Inc. has a 12 month low of $27.72 and a 12 month high of $43.96. The stock has a market capitalization of $2.03 billion, a PE ratio of 20.17 and a beta of 1.41.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.40 annualized dividend and a yield of 1.13%. Mueller Industries’s dividend payout ratio is presently 22.86%.
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Separately, BidaskClub cut Mueller Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 18th.
In related news, CFO Jeffrey Andrew Martin sold 3,500 shares of Mueller Industries stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 111,146 shares of the company’s stock, valued at $3,557,783.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 2,000 shares of Mueller Industries stock in a transaction 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 directly owns 45,607 shares of the company’s stock, valued at $1,416,097.35. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
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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