Skandinaviska Enskilda Banken AB publ Sells 53,821 Shares of Mueller Industries, Inc. (NYSE:MLI)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 343,279 shares of the industrial products company’s stock after selling 53,821 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.30% of Mueller Industries worth $27,380,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the 3rd quarter valued at approximately $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter valued at approximately $53,000. City State Bank bought a new position in shares of Mueller Industries during the 4th quarter valued at approximately $58,000. Finally, GAMMA Investing LLC increased its position in shares of Mueller Industries by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Wednesday, December 11th.

Mueller Industries Stock Down 0.8 %

MLI opened at $78.24 on Friday. The business has a fifty day moving average of $80.21 and a 200 day moving average of $78.89. Mueller Industries, Inc. has a 52-week low of $50.84 and a 52-week high of $96.81. The stock has a market cap of $8.86 billion, a P/E ratio of 14.73 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 18.83%.

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.