Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 13.1% in the first quarter, Holdings Channel.com reports. The firm owned 39,484 shares of the industrial products company’s stock after selling 5,969 shares during the quarter. Tidal Investments LLC’s holdings in Mueller Industries were worth $2,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Larson Financial Group LLC boosted its holdings in Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $34,000. LifeSteps Financial Inc. purchased a new stake in shares of Mueller Industries during the 1st quarter valued at approximately $43,000. Finally, CWM LLC lifted its holdings in Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Down 4.1 %

MLI stock traded down $2.79 during midday trading on Friday, hitting $65.85. 158,919 shares of the company’s stock were exchanged, compared to its average volume of 684,398. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $72.68. The stock has a market capitalization of $7.46 billion, a PE ratio of 13.76 and a beta of 1.05. The business has a 50-day simple moving average of $59.16 and a two-hundred day simple moving average of $54.75.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.12. The company had revenue of $997.75 million during the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Activity

In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the sale, the director now directly owns 24,733 shares in the company, valued at $1,427,836.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the transaction, the director now owns 103,914 shares in the company, valued at $6,090,399.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth M. Donovan sold 2,000 shares of Mueller Industries stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the sale, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.