Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,668 shares of the industrial products company's stock after selling 1,805 shares during the quarter. Amalgamated Bank's holdings in Mueller Industries were worth $1,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY lifted its position in shares of Mueller Industries by 4.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,439 shares of the industrial products company's stock worth $203,000 after purchasing an additional 144 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Mueller Industries by 4.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,439 shares of the industrial products company's stock worth $203,000 after acquiring an additional 144 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Mueller Industries by 3.6% during the second quarter. Captrust Financial Advisors now owns 5,101 shares of the industrial products company's stock worth $272,000 after acquiring an additional 175 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Mueller Industries by 1.6% during the first quarter. Exchange Traded Concepts LLC now owns 12,104 shares of the industrial products company's stock worth $889,000 after acquiring an additional 191 shares in the last quarter. Finally, HWG Holdings LP increased its position in shares of Mueller Industries by 1.1% during the fourth quarter. HWG Holdings LP now owns 18,518 shares of the industrial products company's stock worth $1,093,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 95.39% of the company's stock.

In other news, CEO Gregory L. Christopher sold 13,800 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $79.64, for a total transaction of $1,099,032.00. Following the transaction, the chief executive officer now owns 78,900 shares of the company's stock, valued at approximately $6,283,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 13,800 shares of the firm's stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $79.64, for a total value of $1,099,032.00. Following the completion of the transaction, the chief executive officer now directly owns 78,900 shares of the company's stock, valued at approximately $6,283,596. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 6,449 shares of Mueller Industries stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $78.06, for a total transaction of $503,408.94. Following the sale, the chief executive officer now directly owns 72,260 shares of the company's stock, valued at $5,640,615.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,240 shares of company stock valued at $3,794,746. 2.90% of the stock is currently owned by insiders.

Shares of NYSE:MLI opened at $81.37 on Monday. Mueller Industries, Inc. has a 1 year low of $57.10 and a 1 year high of $91.93. The business's 50 day simple moving average is $83.24 and its 200 day simple moving average is $75.46. The company has a market capitalization of $4.62 billion, a P/E ratio of 7.14 and a beta of 1.12.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.72. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $1.04 billion. Mueller Industries had a net margin of 17.46% and a return on equity of 33.92%. The firm's revenue for the quarter was down 22.0% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. Mueller Industries's dividend payout ratio (DPR) is currently 10.54%.

Separately, StockNews.com cut shares of Mueller Industries from a "buy" rating to a "hold" rating in a report on Monday, July 24th.

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

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