Metropolitan Life Insurance Co. NY maintained its position in Mueller Industries, Inc. (NYSE:MLI) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,114 shares of the industrial products company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Mueller Industries worth $1,305,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Mueller Industries during the fourth quarter valued at about $35,592,000. Teachers Advisors LLC increased its stake in Mueller Industries by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 539,421 shares of the industrial products company’s stock worth $21,555,000 after buying an additional 23,492 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Mueller Industries by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the industrial products company’s stock worth $804,000 after buying an additional 400 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Mueller Industries by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,360 shares of the industrial products company’s stock worth $217,000 after buying an additional 130 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in Mueller Industries by 2.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 523,505 shares of the industrial products company’s stock worth $17,920,000 after buying an additional 11,672 shares in the last quarter. 90.47% of the stock is owned by institutional investors.
Mueller Industries, Inc. (MLI) traded down 0.10% on Friday, reaching $28.69. The company’s stock had a trading volume of 108,801 shares. The stock has a 50-day moving average of $30.39 and a 200-day moving average of $33.14. Mueller Industries, Inc. has a one year low of $27.72 and a one year high of $43.96. The stock has a market cap of $1.65 billion, a P/E ratio of 16.38 and a beta of 1.37.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, August 31st. Mueller Industries’s dividend payout ratio (DPR) is 22.86%.
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Separately, BidaskClub cut Mueller Industries from a “hold” rating to a “sell” rating in a report on Friday.
In related news, Director John B. Hansen sold 2,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $31.05, for a total value of $62,100.00. Following the transaction, the director now owns 45,607 shares of the company’s stock, valued at $1,416,097.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.79% of the stock is currently owned by company insiders.
About Mueller Industries
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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