Harbor Capital Advisors Inc. Has $38,000 Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Harbor Capital Advisors Inc. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI) by 41.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 504 shares of the industrial products company’s stock after selling 356 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Mueller Industries were worth $38,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MLI. New Age Alpha Advisors LLC acquired a new position in Mueller Industries in the 4th quarter valued at $32,000. Quarry LP acquired a new stake in Mueller Industries during the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries during the fourth quarter worth approximately $47,000. Point72 Hong Kong Ltd acquired a new position in Mueller Industries during the 4th quarter worth approximately $53,000. Finally, NBC Securities Inc. acquired a new position in Mueller Industries during the 1st quarter valued at about $68,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Down 2.9%

Shares of NYSE MLI opened at $74.20 on Monday. Mueller Industries, Inc. has a twelve month low of $54.01 and a twelve month high of $96.81. The stock’s 50 day moving average price is $75.33 and its 200-day moving average price is $78.12. The company has a market capitalization of $8.21 billion, a PE ratio of 13.97 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.35%. Mueller Industries’s payout ratio is 18.21%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director now owns 93,914 shares of the company’s stock, valued at $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the transaction, the director now owns 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock worth $2,198,600 in the last 90 days. Company insiders own 2.70% of the company’s stock.

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.