OppenheimerFunds Inc. lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,188 shares of the industrial products company’s stock after selling 6,753 shares during the quarter. OppenheimerFunds Inc.’s holdings in Mueller Industries were worth $1,494,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Mueller Industries by 3.3% in the fourth quarter. BlackRock Inc. now owns 7,424,345 shares of the industrial products company’s stock valued at $263,045,000 after acquiring an additional 237,601 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Mueller Industries by 4.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,196,412 shares of the industrial products company’s stock valued at $77,819,000 after acquiring an additional 92,360 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Mueller Industries by 0.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,342,125 shares of the industrial products company’s stock valued at $47,552,000 after acquiring an additional 3,925 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Mueller Industries by 1.5% in the third quarter. Neuberger Berman Group LLC now owns 1,203,724 shares of the industrial products company’s stock valued at $42,070,000 after acquiring an additional 18,222 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Mueller Industries by 2.4% in the fourth quarter. Royce & Associates LP now owns 1,128,466 shares of the industrial products company’s stock valued at $39,982,000 after acquiring an additional 26,758 shares during the last quarter. 93.41% of the stock is currently owned by institutional investors and hedge funds.
Separately, TheStreet downgraded Mueller Industries from a “b” rating to a “c” rating in a research report on Tuesday, February 6th.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.10 earnings per share for the quarter. The firm had revenue of $523.52 million for the quarter. Mueller Industries had a return on equity of 16.47% and a net margin of 3.78%.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, March 15th. Mueller Industries’s dividend payout ratio (DPR) is presently 26.85%.
In other Mueller Industries news, insider Gary Westermeyer purchased 1,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $26.95 per share, with a total value of $26,950.00. Following the completion of the transaction, the insider now directly owns 15,292 shares in the company, valued at $412,119.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary S. Gladstein purchased 13,400 shares of the stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $26.14 per share, for a total transaction of $350,276.00. Following the transaction, the director now owns 89,963 shares of the company’s stock, valued at $2,351,632.82. The disclosure for this purchase can be found here. 2.79% of the stock is owned by insiders.
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.
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