Marshall Wace North America L.P. acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,997 shares of the industrial products company’s stock, valued at approximately $360,000.
Other large investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Mueller Industries during the first quarter worth about $168,000. Nisa Investment Advisors LLC bought a new stake in Mueller Industries during the second quarter worth about $152,000. Two Sigma Securities LLC bought a new stake in Mueller Industries during the first quarter worth about $222,000. Sii Investments Inc. WI bought a new stake in Mueller Industries during the first quarter worth about $275,000. Finally, Trexquant Investment LP bought a new stake in Mueller Industries during the first quarter worth about $311,000. 91.13% of the stock is owned by institutional investors.
Shares of Mueller Industries, Inc. (MLI) opened at 30.85 on Friday. The firm’s 50-day moving average price is $29.92 and its 200 day moving average price is $31.55. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 17.62 and a beta of 1.38. Mueller Industries, Inc. has a 52 week low of $27.72 and a 52 week high of $43.96.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. Mueller Industries’s payout ratio is presently 22.86%.
Separately, BidaskClub lowered Mueller Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 18th.
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In other Mueller Industries news, Director John B. Hansen sold 2,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $31.05, for a total value of $62,100.00. Following the completion of the sale, the director now owns 45,607 shares in the company, valued at approximately $1,416,097.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.79% of the company’s stock.
Mueller Industries Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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