J. Goldman & Co LP Takes Position in Mueller Industries, Inc. (NYSE:MLI)

J. Goldman & Co LP bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 152,407 shares of the industrial products company's stock, valued at approximately $12,095,000. J. Goldman & Co LP owned approximately 0.13% of Mueller Industries at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after purchasing an additional 152,780 shares during the period. Franklin Resources Inc. lifted its holdings in Mueller Industries by 6.7% during the third quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company's stock worth $5,073,000 after buying an additional 4,360 shares during the period. GAMMA Investing LLC lifted its holdings in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock worth $64,000 after buying an additional 258 shares during the period. City State Bank bought a new stake in Mueller Industries during the 4th quarter valued at $58,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Mueller Industries in the 4th quarter valued at $2,268,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director now owns 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock worth $2,198,600 in the last 90 days. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Trading Up 0.4%

Shares of MLI traded up $0.30 during trading hours on Friday, hitting $79.35. The company had a trading volume of 555,440 shares, compared to its average volume of 931,859. The company has a market capitalization of $8.78 billion, a PE ratio of 14.94 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The company's fifty day moving average price is $75.33 and its two-hundred day moving average price is $79.73.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

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.