American Century Companies Inc. Sells 169,118 Shares of Mueller Industries, Inc. $MLI

American Century Companies Inc. cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 11.0% during the third quarter, Holdings Channel.com reports. The firm owned 1,361,496 shares of the industrial products company’s stock after selling 169,118 shares during the quarter. American Century Companies Inc.’s holdings in Mueller Industries were worth $137,661,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MLI. Huntington National Bank increased its position in Mueller Industries by 76.9% during the third quarter. Huntington National Bank now owns 6,429 shares of the industrial products company’s stock worth $650,000 after buying an additional 2,795 shares during the last quarter. Argent Trust Co acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $2,805,000. Handelsbanken Fonder AB boosted its stake in shares of Mueller Industries by 11.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 31,148 shares of the industrial products company’s stock worth $3,149,000 after acquiring an additional 3,100 shares during the period. Banco Santander S.A. acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $6,782,000. Finally, Choreo LLC increased its holdings in shares of Mueller Industries by 43.5% during the 3rd quarter. Choreo LLC now owns 4,003 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MLI. Wall Street Zen downgraded Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries presently has an average rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the sale, the director directly owned 90,664 shares in the company, valued at $10,581,395.44. This represents a 1.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the completion of the transaction, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

Mueller Industries stock opened at $118.00 on Monday. The firm has a market cap of $13.09 billion, a PE ratio of 17.18 and a beta of 1.04. The stock’s fifty day moving average price is $123.03 and its two-hundred day moving average price is $110.01. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $139.29.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.35 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. Mueller Industries’s payout ratio is currently 14.56%.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.