Systematic Financial Management LP boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 330,792 shares of the company’s stock after buying an additional 7,175 shares during the period. Systematic Financial Management LP’s holdings in Mueller Industries were worth $13,218,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MLI. Wells Fargo & Company MN boosted its stake in shares of Mueller Industries by 5.1% in the third quarter. Wells Fargo & Company MN now owns 1,473,309 shares of the company’s stock worth $47,765,000 after buying an additional 70,889 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Mueller Industries by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 711,872 shares of the company’s stock worth $23,078,000 after buying an additional 18,675 shares in the last quarter. BlackRock Investment Management LLC boosted its position in Mueller Industries by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 245,312 shares of the company’s stock worth $7,953,000 after buying an additional 1,654 shares in the last quarter. Palisade Capital Management LLC NJ boosted its position in Mueller Industries by 1.7% in the third quarter. Palisade Capital Management LLC NJ now owns 545,468 shares of the company’s stock worth $17,684,000 after buying an additional 8,994 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Mueller Industries by 7.2% in the third quarter. Teachers Advisors LLC now owns 515,929 shares of the company’s stock worth $16,726,000 after buying an additional 34,553 shares in the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.
Mueller Industries, Inc. (NYSE:MLI) traded down 1.09% during trading on Friday, reaching $42.57. The company’s stock had a trading volume of 73,071 shares. Mueller Industries, Inc. has a 52-week low of $25.46 and a 52-week high of $43.96. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 24.47 and a beta of 1.30. The stock’s 50-day moving average is $40.43 and its 200 day moving average is $35.96.
The business also recently announced a special dividend, which will be paid on Thursday, March 9th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $3.00 per share. This represents a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, March 10th.
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In other news, CEO Gregory L. Christopher sold 40,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $38.03, for a total transaction of $1,521,200.00. Following the completion of the sale, the chief executive officer now directly owns 255,673 shares of the company’s stock, valued at $9,723,244.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.
About Mueller Industries
Mueller Industries, Inc (Mueller) is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). Its Plumbing & Refrigeration segment consists of Standard Products (SPD), Great Lakes Copper Ltd.
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