Seizert Capital Partners LLC Trims Holdings in Mueller Industries, Inc. (NYSE:MLI)

Seizert Capital Partners LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,843 shares of the industrial products company’s stock after selling 72,898 shares during the quarter. Seizert Capital Partners LLC owned approximately 0.06% of Mueller Industries worth $5,781,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $41,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter valued at $53,000. City State Bank purchased a new position in Mueller Industries during the fourth quarter worth about $58,000. Finally, GAMMA Investing LLC boosted its stake in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after buying an additional 258 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

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

Mueller Industries Stock Down 1.6 %

MLI stock opened at $78.22 on Wednesday. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 14.73 and a beta of 0.98. The business has a fifty day simple moving average of $80.18 and a 200-day simple moving average of $78.41. Mueller Industries, Inc. has a 52 week low of $49.95 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, March 14th. Mueller Industries’s payout ratio is currently 18.83%.

Analyst Upgrades and Downgrades

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

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.