Prudential PLC Sells 4,208 Shares of Mueller Industries, Inc. (NYSE:MLI)

Prudential PLC lessened its position in Mueller Industries, Inc. (NYSE:MLI) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,850 shares of the industrial products company’s stock after selling 4,208 shares during the quarter. Prudential PLC’s holdings in Mueller Industries were worth $5,685,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Mueller Industries during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the 2nd quarter worth about $30,000. LifeSteps Financial Inc. bought a new position in shares of Mueller Industries during the 1st quarter worth about $43,000. CWM LLC increased its holdings in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Mueller Industries by 100.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 500 shares during the period. Institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the business’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 transaction, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock valued at $7,081,770 over the last quarter. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

NYSE:MLI opened at $67.14 on Wednesday. The firm’s 50-day moving average is $66.16 and its 200-day moving average is $58.94. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $72.83. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 13.45 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its 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. The business had revenue of $997.75 million for the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Mueller Industries’s payout ratio is currently 16.03%.

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.