Pacer Advisors Inc. Decreases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Pacer Advisors Inc. lessened its stake in Mueller Industries, Inc. (NYSE:MLI) by 99.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,438 shares of the industrial products company’s stock after selling 2,496,989 shares during the period. Pacer Advisors Inc.’s holdings in Mueller Industries were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MLI. Fiera Capital Corp bought a new position in shares of Mueller Industries during the 3rd quarter worth approximately $35,552,000. Charles Schwab Investment Management Inc. grew its stake in shares of Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after acquiring an additional 315,490 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Mueller Industries by 77.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock worth $29,152,000 after purchasing an additional 171,671 shares during the last quarter. Barclays PLC increased its position in shares of Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after acquiring an additional 152,780 shares during the period. Finally, State Street Corp lifted its position in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after acquiring an additional 139,406 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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 research note on Wednesday, December 11th.

Mueller Industries Trading Down 1.7 %

Shares of NYSE MLI opened at $78.78 on Friday. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 15.30 and a beta of 1.00. Mueller Industries, Inc. has a 12 month low of $47.46 and a 12 month high of $96.81. The company has a 50 day simple moving average of $80.48 and a two-hundred day simple moving average of $76.37.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

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.