Putnam Investments LLC lessened its holdings in Mueller Industries, Inc. (NYSE:MLI – Get Rating) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,103 shares of the industrial products company’s stock after selling 582 shares during the period. Putnam Investments LLC owned approximately 0.06% of Mueller Industries worth $1,908,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of MLI. Costello Asset Management INC acquired a new position in Mueller Industries during the 3rd quarter worth about $35,000. Wipfli Financial Advisors LLC acquired a new position in Mueller Industries during the 3rd quarter worth about $38,000. Point72 Hong Kong Ltd acquired a new position in Mueller Industries during the 2nd quarter worth about $40,000. Quadrant Capital Group LLC lifted its stake in Mueller Industries by 50.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 776 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 259 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Mueller Industries by 54.9% during the 3rd quarter. Federated Hermes Inc. now owns 841 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.
Insider Buying and Selling at Mueller Industries
In other Mueller Industries news, Director John B. Hansen sold 1,778 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $73.43, for a total value of $130,558.54. Following the sale, the director now owns 54,107 shares of the company’s stock, valued at approximately $3,973,077.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 1,778 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $73.43, for a total value of $130,558.54. Following the sale, the director now owns 54,107 shares of the company’s stock, valued at approximately $3,973,077.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 507 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $75.00, for a total value of $38,025.00. Following the completion of the sale, the chief executive officer now directly owns 603,671 shares in the company, valued at approximately $45,275,325. The disclosure for this sale can be found here. Insiders have sold 57,666 shares of company stock valued at $4,275,639 in the last quarter. Corporate insiders own 2.90% of the company’s stock.
Mueller Industries Trading Down 3.6 %
Mueller Industries Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a dividend of $0.30 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, March 16th. This represents a $1.20 annualized dividend and a yield of 1.67%. Mueller Industries’s dividend payout ratio is presently 8.60%.
Mueller Industries Company Profile
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of Domestic Piping Systems Group, Great Lakes Copper, Heatlink Group, European Operations, Trading Group, Jungwoo-Mueller, and Mueller Middle East.
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