JPMorgan Chase & Co. Has $5.12 Million Position in Mueller Industries, Inc. (MLI)
JPMorgan Chase & Co. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,177 shares of the industrial products company’s stock after selling 22,295 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Mueller Industries worth $5,120,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Mueller Industries by 4.6% in the 2nd quarter. Principal Financial Group Inc. now owns 533,151 shares of the industrial products company’s stock worth $16,234,000 after acquiring an additional 23,528 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Mueller Industries by 0.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,185,502 shares of the industrial products company’s stock worth $36,099,000 after acquiring an additional 4,832 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Mueller Industries by 8.0% in the 2nd quarter. Royce & Associates LP now owns 1,094,534 shares of the industrial products company’s stock worth $33,329,000 after acquiring an additional 81,256 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Mueller Industries in the 2nd quarter worth about $360,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Mueller Industries by 66.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,376 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 8,114 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.
Separately, BidaskClub lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Friday, August 18th.
Shares of Mueller Industries, Inc. (NYSE MLI) opened at 35.35 on Friday. Mueller Industries, Inc. has a 12-month low of $27.72 and a 12-month high of $43.96. The company has a 50 day moving average of $31.34 and a 200-day moving average of $31.09. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 20.19 and a beta of 1.41.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Mueller Industries’s dividend payout ratio (DPR) is currently 22.86%.
In related news, Director John B. Hansen sold 2,000 shares of Mueller Industries stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $31.05, for a total transaction of $62,100.00. Following the completion of the transaction, the director now directly owns 45,607 shares of the company’s stock, valued at approximately $1,416,097.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Andrew Martin sold 3,500 shares of Mueller Industries stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $32.01, for a total transaction of $112,035.00. Following the transaction, the chief financial officer now directly owns 111,146 shares of the company’s stock, valued at $3,557,783.46. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.
Mueller Industries Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
Receive News & Ratings for Mueller Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.