Systematic Financial Management LP Cuts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Systematic Financial Management LP trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 924,613 shares of the industrial products company’s stock after selling 89,393 shares during the quarter. Mueller Industries accounts for approximately 1.6% of Systematic Financial Management LP’s investment portfolio, making the stock its 4th largest holding. Systematic Financial Management LP owned approximately 0.81% of Mueller Industries worth $52,647,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MLI. Corient Private Wealth LLC bought a new stake in Mueller Industries during the 4th quarter valued at about $584,000. Franklin Resources Inc. raised its stake in shares of Mueller Industries by 95.7% during the fourth quarter. Franklin Resources Inc. now owns 48,304 shares of the industrial products company’s stock valued at $2,278,000 after acquiring an additional 23,618 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Mueller Industries by 661.9% in the fourth quarter. US Bancorp DE now owns 17,380 shares of the industrial products company’s stock valued at $819,000 after purchasing an additional 15,099 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Mueller Industries by 130.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 32,605 shares of the industrial products company’s stock worth $1,500,000 after buying an additional 18,472 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Mueller Industries by 100.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 500 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

NYSE MLI opened at $72.10 on Friday. The company has a market cap of $8.19 billion, a PE ratio of 14.45 and a beta of 1.03. The firm’s 50 day moving average price is $69.09 and its 200-day moving average price is $60.67. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $74.47.

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

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. Mueller Industries’s payout ratio is 16.03%.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,000 shares of company stock valued at $7,081,770. Insiders own 2.80% of the company’s stock.

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.