Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Increased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 927.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,025 shares of the industrial products company's stock after purchasing an additional 65,015 shares during the period. Balyasny Asset Management L.P. owned about 0.06% of Mueller Industries worth $5,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC grew 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 acquiring an additional 152,780 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Mueller Industries by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company's stock worth $5,073,000 after acquiring an additional 4,360 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock worth $64,000 after acquiring an additional 258 shares in the last quarter. City State Bank acquired a new position in shares of Mueller Industries in the 4th quarter worth approximately $58,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Mueller Industries in the 4th quarter worth approximately $2,268,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Up 0.5%

Shares of MLI traded up $0.43 during mid-day trading on Friday, hitting $79.48. The stock had a trading volume of 185,972 shares, compared to its average volume of 930,462. The company has a market cap of $8.79 billion, a PE ratio of 14.98 and a beta of 1.03. The company's fifty day simple moving average is $75.33 and its two-hundred day simple moving average is $79.73. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.08. The business had revenue of $1 billion for the quarter, compared to the consensus estimate 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is 18.21%.

Insider Buying and Selling

In related news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the sale, the director now owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now directly owns 39,615 shares in the company, valued at $2,910,117.90. The trade was a 29.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,613 shares of company stock valued at $2,198,600. Insiders own 2.70% of the company's stock.

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.