Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,831 shares of the industrial products company’s stock after selling 22,223 shares during the quarter. Sei Investments Co. owned 0.09% of Mueller Industries worth $7,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in Mueller Industries by 125.1% during the third quarter. Cerity Partners LLC now owns 8,216 shares of the industrial products company’s stock valued at $609,000 after purchasing an additional 4,566 shares during the last quarter. FMR LLC lifted its position in shares of Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after acquiring an additional 27,399 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Mueller Industries by 9.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,834 shares of the industrial products company’s stock worth $5,545,000 after acquiring an additional 6,243 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Mueller Industries in the 3rd quarter worth $381,000. Finally, Glenmede Trust Co. NA raised its position in shares of Mueller Industries by 11.2% during the third quarter. Glenmede Trust Co. NA now owns 19,617 shares of the industrial products company’s stock worth $1,454,000 after purchasing an additional 1,976 shares during the period. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $76.58 on Monday. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The company’s 50 day simple moving average is $79.92 and its 200-day simple moving average is $79.80.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 18.83%.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, December 11th.

Mueller Industries Company Profile

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.