Fmr LLC Has $169.20 Million Position in Mueller Industries, Inc. (MLI)
Fmr LLC lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 6.8% during the first quarter, Holdings Channel reports. The institutional investor owned 4,943,125 shares of the industrial products company’s stock after selling 359,725 shares during the period. Fmr LLC owned about 0.09% of Mueller Industries worth $169,203,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Comerica Bank boosted its position in shares of Mueller Industries by 5.9% in the fourth quarter. Comerica Bank now owns 60,982 shares of the industrial products company’s stock valued at $2,409,000 after buying an additional 3,376 shares in the last quarter. State Street Corp boosted its position in shares of Mueller Industries by 8.4% in the fourth quarter. State Street Corp now owns 1,294,166 shares of the industrial products company’s stock valued at $51,720,000 after buying an additional 100,355 shares in the last quarter. Keybank National Association OH boosted its position in shares of Mueller Industries by 27.9% in the fourth quarter. Keybank National Association OH now owns 25,691 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 5,600 shares in the last quarter. Elkfork Partners LLC purchased a new position in shares of Mueller Industries during the fourth quarter valued at about $130,000. Finally, Pacad Investment Ltd. boosted its position in shares of Mueller Industries by 16.7% in the fourth quarter. Pacad Investment Ltd. now owns 4,200 shares of the industrial products company’s stock valued at $168,000 after buying an additional 600 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Mueller Industries, Inc. (NYSE MLI) traded down 2.00% during trading on Tuesday, reaching $29.90. The company had a trading volume of 7,656 shares. Mueller Industries, Inc. has a 12 month low of $27.72 and a 12 month high of $43.96. The stock’s 50-day moving average price is $29.86 and its 200-day moving average price is $35.94. The stock has a market capitalization of $1.72 billion, a PE ratio of 16.98 and a beta of 1.35.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter. The firm had revenue of $577.92 million during the quarter. Mueller Industries had a return on equity of 12.31% and a net margin of 4.81%. Equities analysts forecast that Mueller Industries, Inc. will post $1.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, May 31st.
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In other news, CFO Jeffrey Andrew Martin sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $33.41, for a total transaction of $100,230.00. Following the completion of the sale, the chief financial officer now directly owns 98,994 shares of the company’s stock, valued at approximately $3,307,389.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.79% of the company’s stock.
Mueller Industries Company Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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