OppenheimerFunds Inc. cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,188 shares of the industrial products company’s stock after selling 6,753 shares during the period. OppenheimerFunds Inc. owned approximately 0.07% of Mueller Industries worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Systematic Financial Management LP lifted its holdings in Mueller Industries by 9.3% during the fourth quarter. Systematic Financial Management LP now owns 417,192 shares of the industrial products company’s stock worth $14,781,000 after acquiring an additional 35,540 shares in the last quarter. Uncommon Cents Investing LLC bought a new position in Mueller Industries during the fourth quarter worth about $631,000. Royce & Associates LP lifted its holdings in Mueller Industries by 2.4% during the fourth quarter. Royce & Associates LP now owns 1,128,466 shares of the industrial products company’s stock worth $39,982,000 after acquiring an additional 26,758 shares in the last quarter. BlackRock Inc. lifted its holdings in Mueller Industries by 3.3% during the fourth quarter. BlackRock Inc. now owns 7,424,345 shares of the industrial products company’s stock worth $263,045,000 after acquiring an additional 237,601 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Mueller Industries by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 768,585 shares of the industrial products company’s stock worth $27,232,000 after acquiring an additional 9,380 shares in the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.
Shares of Mueller Industries, Inc. (MLI) opened at $28.13 on Wednesday. Mueller Industries, Inc. has a 12 month low of $25.50 and a 12 month high of $37.57. The stock has a market capitalization of $1,621.58, a PE ratio of 18.91 and a beta of 1.42. The company has a quick ratio of 1.70, a current ratio of 3.05 and a debt-to-equity ratio of 0.84.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Thursday, March 15th. Mueller Industries’s dividend payout ratio is 26.85%.
Separately, TheStreet downgraded Mueller Industries from a “b” rating to a “c” rating in a research note on Tuesday, February 6th.
In other news, insider Gary Westermeyer purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $26.95 per share, with a total value of $26,950.00. Following the purchase, the insider now directly owns 15,292 shares of the company’s stock, valued at approximately $412,119.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary S. Gladstein purchased 13,400 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $26.14 per share, for a total transaction of $350,276.00. Following the purchase, the director now directly owns 89,963 shares in the company, valued at $2,351,632.82. The disclosure for this purchase can be found here. Company 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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