SG Americas Securities LLC Reduces Holdings in Mueller Industries, Inc. (NYSE:MLI)

SG Americas Securities LLC decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 82.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,531 shares of the industrial products company’s stock after selling 12,013 shares during the quarter. SG Americas Securities LLC’s holdings in Mueller Industries were worth $119,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MLI. Beaird Harris Wealth Management LLC purchased a new position in shares of Mueller Industries during the third quarter worth about $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Mueller Industries during the second quarter worth about $40,000. Adirondack Trust Co. acquired a new stake in shares of Mueller Industries during the third quarter worth about $45,000. Versant Capital Management Inc boosted its stake in shares of Mueller Industries by 100.0% during the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after buying an additional 487 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Mueller Industries by 54.9% during the third quarter. Federated Hermes Inc. now owns 841 shares of the industrial products company’s stock worth $50,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.7 %

Shares of NYSE:MLI opened at $52.32 on Friday. The company has a market cap of $5.94 billion, a P/E ratio of 9.84 and a beta of 1.08. Mueller Industries, Inc. has a 52 week low of $33.90 and a 52 week high of $54.64. The company has a 50-day moving average price of $51.64 and a 200 day moving average price of $46.19.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. The firm had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio (DPR) is presently 15.05%.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now owns 370,840 shares of the company’s stock, valued at $18,263,870. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

MLI has been the subject of several recent research reports. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Mueller Industries 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.