Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Lowered by BTC Capital Management Inc.

BTC Capital Management Inc. cut its position in Mueller Industries, Inc. (NYSE:MLI) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,907 shares of the industrial products company’s stock after selling 755 shares during the quarter. BTC Capital Management Inc.’s holdings in Mueller Industries were worth $564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLI. Raymond James & Associates grew its holdings in Mueller Industries by 3.5% in the 2nd quarter. Raymond James & Associates now owns 61,622 shares of the industrial products company’s stock worth $3,509,000 after buying an additional 2,063 shares in the last quarter. Blue Trust Inc. grew its position in Mueller Industries by 46.0% in the 2nd quarter. Blue Trust Inc. now owns 3,800 shares of the industrial products company’s stock valued at $205,000 after buying an additional 1,197 shares in the last quarter. Welch Group LLC increased its stake in Mueller Industries by 76.0% during the 2nd quarter. Welch Group LLC now owns 22,000 shares of the industrial products company’s stock valued at $1,253,000 after buying an additional 9,500 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Mueller Industries in the second quarter valued at approximately $250,000. Finally, Crestmont Private Wealth LLC raised its holdings in Mueller Industries by 9.2% during the second quarter. Crestmont Private Wealth LLC now owns 8,015 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 675 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Up 0.2 %

MLI traded up $0.13 during trading on Monday, reaching $68.59. The stock had a trading volume of 116,550 shares, compared to its average volume of 688,114. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $72.68. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 13.76 and a beta of 1.06. The stock has a 50 day moving average of $61.59 and a two-hundred day moving average of $56.52.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The company had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, September 6th. Mueller Industries’s dividend payout ratio is 16.03%.

Insider Buying and Selling

In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the completion of the sale, the director now directly owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the transaction, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,000 shares of company stock valued at $3,701,230. 2.80% of the stock is owned by corporate insiders.

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.