Congress Asset Management Co. MA Sells 5,181 Shares of Mueller Industries, Inc. (NYSE:MLI)

Congress Asset Management Co. MA lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 195,717 shares of the industrial products company’s stock after selling 5,181 shares during the period. Congress Asset Management Co. MA’s holdings in Mueller Industries were worth $10,555,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC bought a new stake in Mueller Industries in the 3rd quarter valued at $30,000. Fifth Third Bancorp grew its stake in Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares during the last quarter. Larson Financial Group LLC grew its stake in Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares during the last quarter. Montag A & Associates Inc. acquired a new position in Mueller Industries in the 4th quarter valued at about $34,000. Finally, CWM LLC grew its position in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the sale, the chief financial officer now owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the sale, the chief financial officer now owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 2,733 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $58.61, for a total transaction of $160,181.13. Following the completion of the transaction, the director now directly owns 103,914 shares in the company, valued at approximately $6,090,399.54. The disclosure for this sale can be found here. Insiders sold 61,169 shares of company stock worth $3,506,762 over the last three months. 2.80% of the stock is currently owned by insiders.

Mueller Industries Trading Up 0.4 %

Shares of NYSE:MLI traded up $0.24 on Friday, reaching $55.68. 3,121,302 shares of the company’s stock were exchanged, compared to its average volume of 502,918. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 11.16 and a beta of 1.07. The company has a fifty day moving average of $56.63 and a 200-day moving average of $51.60. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $60.31.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.21 EPS for the quarter. The business had revenue of $849.65 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, June 7th. Mueller Industries’s dividend payout ratio is currently 16.03%.

About Mueller Industries

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.