AdvisorShares Investments LLC Acquires Shares of 88,640 Mueller Industries, Inc. (NYSE:MLI)

AdvisorShares Investments LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 88,640 shares of the industrial products company's stock, valued at approximately $7,034,000. Mueller Industries makes up approximately 1.4% of AdvisorShares Investments LLC's investment portfolio, making the stock its 18th largest holding. AdvisorShares Investments LLC owned approximately 0.08% of Mueller Industries at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MLI. First Trust Advisors LP increased its stake in Mueller Industries by 5.6% in the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after buying an additional 327,479 shares during the last quarter. Invesco Ltd. raised its holdings in Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after acquiring an additional 933,498 shares in the last quarter. Geode Capital Management LLC grew its stake in Mueller Industries by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after purchasing an additional 117,327 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth approximately $201,376,000. Finally, FMR LLC boosted its holdings in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after buying an additional 845,031 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the transaction, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. This represents a 29.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

MLI traded up $2.08 during trading on Friday, reaching $75.56. 450,119 shares of the stock were exchanged, compared to its average volume of 926,314. The stock's 50 day moving average price is $76.05 and its two-hundred day moving average price is $79.82. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The stock has a market cap of $8.36 billion, a P/E ratio of 14.23 and a beta of 0.96.

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

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's payout ratio is presently 18.21%.

Mueller Industries Profile

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.