Everence Capital Management Inc. Sells 14,130 Shares of Mueller Industries, Inc. (NYSE:MLI)

Everence Capital Management Inc. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 83.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,870 shares of the industrial products company’s stock after selling 14,130 shares during the period. Everence Capital Management Inc.’s holdings in Mueller Industries were worth $228,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Federated Hermes Inc. bought a new stake in shares of Mueller Industries in the second quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Westside Investment Management Inc. bought a new stake in Mueller Industries in the 3rd quarter worth approximately $41,000. Harbor Capital Advisors Inc. purchased a new stake in Mueller Industries during the 3rd quarter valued at $64,000. Finally, Quarry LP lifted its holdings in shares of Mueller Industries by 525.5% during the 2nd quarter. Quarry LP now owns 1,301 shares of the industrial products company’s stock valued at $74,000 after buying an additional 1,093 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.7 %

Shares of NYSE:MLI opened at $79.71 on Thursday. The firm’s 50 day moving average price is $83.60 and its 200-day moving average price is $73.74. The stock has a market capitalization of $9.07 billion, a PE ratio of 15.48 and a beta of 1.00. Mueller Industries, Inc. has a twelve month low of $44.39 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.