O Shaughnessy Asset Management LLC Sells 4,715 Shares of Mueller Industries, Inc. (NYSE:MLI)

O Shaughnessy Asset Management LLC reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 174,686 shares of the industrial products company’s stock after selling 4,715 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Mueller Industries were worth $13,863,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MLI. Schroder Investment Management Group raised its stake in Mueller Industries by 10.2% during the fourth quarter. Schroder Investment Management Group now owns 7,903 shares of the industrial products company’s stock valued at $630,000 after purchasing an additional 730 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Mueller Industries by 59.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 844,287 shares of the industrial products company’s stock worth $67,003,000 after acquiring an additional 316,095 shares in the last quarter. Maridea Wealth Management LLC bought a new stake in Mueller Industries during the fourth quarter worth approximately $549,000. Pictet Asset Management Holding SA raised its position in Mueller Industries by 19.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 16,079 shares of the industrial products company’s stock valued at $1,276,000 after purchasing an additional 2,569 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Mueller Industries by 5,640.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 34,440 shares of the industrial products company’s stock valued at $2,733,000 after purchasing an additional 33,840 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Wednesday, December 11th.

Mueller Industries Stock Performance

Shares of MLI stock opened at $76.58 on Monday. The stock has a 50 day moving average price of $79.92 and a 200 day moving average price of $79.80. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.31%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s payout ratio is 18.83%.

Mueller Industries Company Profile

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.