Mutual of America Capital Management LLC Sells 17,697 Shares of Mueller Industries, Inc. $MLI

Mutual of America Capital Management LLC decreased its stake in Mueller Industries, Inc. (NYSE:MLI) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,486 shares of the industrial products company’s stock after selling 17,697 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.19% of Mueller Industries worth $21,181,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of Mueller Industries by 10.7% in the 1st quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock valued at $1,121,000 after purchasing an additional 1,420 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after purchasing an additional 3,316 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Mueller Industries in the first quarter valued at about $524,000. Wealth Enhancement Advisory Services LLC grew its stake in Mueller Industries by 9.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,494 shares of the industrial products company’s stock worth $454,000 after buying an additional 495 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Mueller Industries by 20.2% during the second quarter. Park Avenue Securities LLC now owns 5,235 shares of the industrial products company’s stock worth $416,000 after buying an additional 881 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries has a consensus rating of “Buy”.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $132.71 on Monday. The stock has a market capitalization of $14.73 billion, a PE ratio of 19.81 and a beta of 1.04. The company’s 50-day moving average price is $116.96 and its two-hundred day moving average price is $103.71. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $135.08.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, December 5th. Mueller Industries’s payout ratio is 14.93%.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 4,234 shares of Mueller Industries stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.