Mueller Industries, Inc. (NYSE:MLI) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,930,977 shares of the industrial products company’s stock after selling 86,812 shares during the period. American Century Companies Inc. owned approximately 1.70% of Mueller Industries worth $109,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Mueller Industries during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Mueller Industries during the second quarter worth about $30,000. LifeSteps Financial Inc. purchased a new stake in Mueller Industries in the first quarter valued at approximately $43,000. CWM LLC increased its holdings in Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after buying an additional 223 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Mueller Industries by 100.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock worth $47,000 after buying an additional 500 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 2.9 %

Shares of NYSE MLI opened at $70.24 on Friday. The company has a 50 day simple moving average of $66.87 and a two-hundred day simple moving average of $59.20. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 14.08 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $72.83.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $6,449,257.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is owned by corporate insiders.

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.