Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 927.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,025 shares of the industrial products company's stock after acquiring an additional 65,015 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.06% of Mueller Industries worth $5,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLI. Barclays PLC raised its holdings in Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock valued at $14,613,000 after buying an additional 152,780 shares during the period. Franklin Resources Inc. raised its holdings in Mueller Industries by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company's stock valued at $5,073,000 after buying an additional 4,360 shares during the period. GAMMA Investing LLC raised its holdings in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock valued at $64,000 after buying an additional 258 shares during the period. City State Bank purchased a new stake in Mueller Industries in the 4th quarter valued at about $58,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Mueller Industries in the 4th quarter valued at about $2,268,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 0.1%

MLI traded up $0.11 on Wednesday, hitting $79.16. The company had a trading volume of 930,012 shares, compared to its average volume of 932,797. The firm has a market cap of $8.76 billion, a P/E ratio of 14.91 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The company's fifty day moving average price is $75.43 and its 200 day moving average price is $79.77.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director now directly owns 100,082 shares of the company's stock, valued at $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares of the company's stock, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,613 shares of company stock worth $2,996,700 over the last three months. Company 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.