DekaBank Deutsche Girozentrale Has $15.39 Million Position in Mueller Industries, Inc. (NYSE:MLI)

DekaBank Deutsche Girozentrale trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,564 shares of the industrial products company’s stock after selling 7,739 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.26% of Mueller Industries worth $15,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MLI. Fifth Third Bancorp increased its position in Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Larson Financial Group LLC increased its position in Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 299 shares during the period. Montag A & Associates Inc. bought a new position in Mueller Industries during the fourth quarter worth $34,000. LifeSteps Financial Inc. bought a new position in Mueller Industries during the first quarter worth $43,000. Finally, CWM LLC increased its position in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 223 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Down 2.4 %

Mueller Industries stock traded down $1.67 on Friday, hitting $66.97. The company’s stock had a trading volume of 948,164 shares, compared to its average volume of 747,471. The firm has a market cap of $7.59 billion, a P/E ratio of 13.42 and a beta of 1.06. The company has a fifty day moving average price of $59.53 and a 200-day moving average price of $55.00. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $72.68.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.75 million for the quarter.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Activity

In related news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $58.61, for a total transaction of $160,181.13. Following the transaction, the director now owns 103,914 shares in the company, valued at approximately $6,090,399.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Mueller Industries news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $58.61, for a total transaction of $160,181.13. Following the transaction, the director now directly owns 103,914 shares in the company, valued at approximately $6,090,399.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the transaction, the director now owns 24,733 shares in the company, valued at $1,427,836.09. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

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.