ProShare Advisors LLC Sells 5,344 Shares of Mueller Industries, Inc. (NYSE:MLI)

ProShare Advisors LLC trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 23.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,295 shares of the industrial products company’s stock after selling 5,344 shares during the period. ProShare Advisors LLC’s holdings in Mueller Industries were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Mueller Industries by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock valued at $666,524,000 after buying an additional 59,060 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Mueller Industries by 94.5% during the fourth quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock valued at $264,920,000 after purchasing an additional 2,729,382 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Mueller Industries by 93.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after purchasing an additional 1,855,637 shares during the last quarter. Gabelli Funds LLC grew its position in Mueller Industries by 94.2% in the 4th quarter. Gabelli Funds LLC now owns 2,461,800 shares of the industrial products company’s stock worth $116,074,000 after purchasing an additional 1,193,900 shares in the last quarter. Finally, LSV Asset Management increased its stake in Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after buying an additional 641,114 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Up 0.7 %

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

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data 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 business had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,000 shares of company stock valued at $7,081,770. Company insiders own 2.80% 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.