Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,378,306 shares of the industrial products company’s stock after selling 91,430 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.21% of Mueller Industries worth $109,382,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MLI. State of Michigan Retirement System purchased a new stake in Mueller Industries during the 4th quarter valued at about $2,135,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries in the fourth quarter valued at approximately $47,000. Jones Financial Companies Lllp increased its holdings in Mueller Industries by 204.8% in the 4th quarter. Jones Financial Companies Lllp now owns 890 shares of the industrial products company’s stock worth $71,000 after buying an additional 598 shares during the period. Smartleaf Asset Management LLC increased its holdings in Mueller Industries by 178.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,075 shares of the industrial products company’s stock worth $166,000 after buying an additional 1,330 shares during the period. Finally, US Bancorp DE raised its position in Mueller Industries by 3.0% during the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock worth $1,451,000 after buying an additional 537 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI opened at $82.17 on Friday. The business’s 50-day moving average is $80.14 and its two-hundred day moving average is $78.66. The company has a market capitalization of $9.31 billion, a P/E ratio of 15.47 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $50.84 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Mueller Industries’s dividend payout ratio (DPR) is presently 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.