Dimensional Fund Advisors LP decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,099,298 shares of the industrial products company’s stock after selling 28,493 shares during the quarter. Dimensional Fund Advisors LP owned 3.64% of Mueller Industries worth $63,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Texas Permanent School Fund raised its position in Mueller Industries by 0.8% in the second quarter. Texas Permanent School Fund now owns 42,056 shares of the industrial products company’s stock valued at $1,281,000 after purchasing an additional 351 shares during the period. Legal & General Group Plc raised its position in Mueller Industries by 0.3% in the first quarter. Legal & General Group Plc now owns 101,408 shares of the industrial products company’s stock valued at $3,467,000 after purchasing an additional 352 shares during the period. Amalgamated Bank raised its position in Mueller Industries by 5.2% in the second quarter. Amalgamated Bank now owns 7,949 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 394 shares during the period. Arizona State Retirement System raised its position in Mueller Industries by 1.7% in the first quarter. Arizona State Retirement System now owns 30,019 shares of the industrial products company’s stock valued at $1,028,000 after purchasing an additional 500 shares during the period. Finally, First Midwest Bank Trust Division raised its position in Mueller Industries by 2.5% in the second quarter. First Midwest Bank Trust Division now owns 23,300 shares of the industrial products company’s stock valued at $709,000 after purchasing an additional 564 shares during the period. 91.12% of the stock is currently owned by institutional investors.

Shares of Mueller Industries, Inc. (NYSE MLI) opened at 34.76 on Friday. The firm has a 50-day moving average price of $32.38 and a 200-day moving average price of $31.16. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 19.85 and a beta of 1.41. Mueller Industries, Inc. has a 12 month low of $27.72 and a 12 month high of $43.96.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, August 31st. Mueller Industries’s dividend payout ratio is presently 22.86%.

Separately, BidaskClub lowered Mueller Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 18th.

In other news, CFO Jeffrey Andrew Martin sold 3,500 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $32.01, for a total value of $112,035.00. Following the transaction, the chief financial officer now owns 111,146 shares of the company’s stock, valued at approximately $3,557,783.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 2,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $31.05, for a total transaction of $62,100.00. Following the completion of the transaction, the director now directly owns 45,607 shares in the company, valued at approximately $1,416,097.35. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.

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Mueller Industries 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.

Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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