Bayesian Capital Management LP Buys Shares of 6,700 Mueller Industries, Inc. (NYSE:MLI)

Bayesian Capital Management LP purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,700 shares of the industrial products company's stock, valued at approximately $532,000.

Several other large investors also recently modified their holdings of MLI. William Blair Investment Management LLC bought a new position in shares of Mueller Industries in the fourth quarter valued at about $201,376,000. Norges Bank bought a new position in Mueller Industries during the fourth quarter worth about $117,351,000. Invesco Ltd. increased its position 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 during the period. FMR LLC increased its position in Mueller Industries by 79.2% during the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after acquiring an additional 845,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Mueller Industries by 169.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock worth $84,029,000 after acquiring an additional 665,413 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Performance

NYSE:MLI traded up $1.90 during mid-day trading on Monday, reaching $76.89. 155,812 shares of the company's stock were exchanged, compared to its average volume of 927,295. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The firm has a market capitalization of $8.51 billion, a PE ratio of 14.47 and a beta of 1.03. The business's fifty day simple moving average is $75.48 and its two-hundred day simple moving average is $79.80.

Mueller Industries (NYSE:MLI - Get Free Report) last released 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 net margin of 16.05% and a return on equity of 22.97%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.30%. Mueller Industries's dividend payout ratio is currently 18.21%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now directly owns 56,098 shares of the company's stock, valued at $4,477,181.38. This trade represents a 15.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 36,483 shares of company stock valued at $2,752,341 in the last ninety days. 2.70% of the stock is currently owned by company insiders.

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.