Uncommon Cents Investing LLC Sells 4,730 Shares of Mueller Industries, Inc. (NYSE:MLI)

Uncommon Cents Investing LLC decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,055 shares of the industrial products company’s stock after selling 4,730 shares during the quarter. Mueller Industries accounts for approximately 1.3% of Uncommon Cents Investing LLC’s investment portfolio, making the stock its 16th largest position. Uncommon Cents Investing LLC’s holdings in Mueller Industries were worth $4,449,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Mueller Industries in the second quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries during the 3rd quarter valued at $41,000. City State Bank bought a new stake in shares of Mueller Industries during the fourth quarter worth about $58,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Mueller Industries during the 3rd quarter worth approximately $64,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

NYSE:MLI opened at $81.98 on Monday. Mueller Industries, Inc. has a 52 week low of $45.20 and a 52 week high of $96.81. The firm’s fifty day moving average is $82.57 and its 200-day moving average is $75.03. The firm has a market cap of $9.32 billion, a P/E ratio of 15.92 and a beta of 1.00.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Analyst Upgrades and Downgrades

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

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.