Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,289,742 shares of the industrial products company’s stock after selling 352,539 shares during the period. Pacer Advisors Inc. owned approximately 2.90% of Mueller Industries worth $187,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Mueller Industries by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock valued at $666,524,000 after acquiring an additional 59,060 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Mueller Industries by 94.5% during the fourth quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock worth $264,920,000 after purchasing an additional 2,729,382 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Mueller Industries by 93.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after purchasing an additional 1,855,637 shares during the period. Gabelli Funds LLC grew its position in Mueller Industries by 94.2% in the 4th quarter. Gabelli Funds LLC now owns 2,461,800 shares of the industrial products company’s stock valued at $116,074,000 after buying an additional 1,193,900 shares during the last quarter. Finally, LSV Asset Management increased its stake in Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after buying an additional 641,114 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock worth $7,081,770 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $72.56 on Friday. The company has a market cap of $8.24 billion, a P/E ratio of 14.54 and a beta of 1.03. The firm has a fifty day moving average of $68.27 and a two-hundred day moving average of $59.91. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $74.47.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.75 million during the quarter.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.