Gabelli Funds LLC Has $132 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Gabelli Funds LLC trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,663,350 shares of the industrial products company’s stock after selling 85,700 shares during the period. Mueller Industries makes up about 1.0% of Gabelli Funds LLC’s holdings, making the stock its 13th biggest position. Gabelli Funds LLC’s holdings in Mueller Industries were worth $132,003,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in Mueller Industries in the fourth quarter valued at about $32,000. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at approximately $41,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the fourth quarter valued at approximately $53,000. Finally, City State Bank bought a new position in shares of Mueller Industries during the 4th quarter valued at $58,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Mueller Industries stock opened at $73.82 on Tuesday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 13.90 and a beta of 0.96. The company’s fifty day moving average price is $78.27 and its two-hundred day moving average price is $79.95. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81.

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

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.35%. Mueller Industries’s dividend payout ratio is presently 18.83%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Mueller Industries 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.