Brevan Howard Capital Management LP Acquires New Shares in Mueller Industries, Inc. (NYSE:MLI)

Brevan Howard Capital Management LP acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,958 shares of the industrial products company's stock, valued at approximately $1,346,000.

Several other hedge funds have also modified their holdings of the stock. New Age Alpha Advisors LLC purchased a new position in shares of Mueller Industries in the 4th quarter valued at about $32,000. Quarry LP acquired a new stake in Mueller Industries during the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries during the fourth quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the 4th quarter worth approximately $53,000. Finally, City State Bank acquired a new position in shares of Mueller Industries in the 4th quarter valued at $58,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

NYSE MLI traded up $0.04 on Friday, reaching $74.89. The stock had a trading volume of 405,005 shares, compared to its average volume of 930,362. The stock has a market cap of $8.29 billion, a P/E ratio of 14.10 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The business's 50-day moving average price is $75.48 and its 200 day moving average price is $79.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data 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. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Mueller Industries's payout ratio is 18.21%.

Insider Buying and Selling at Mueller Industries

In related news, 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 transaction, the director now directly owns 39,615 shares in the company, valued at $2,910,117.90. This trade represents a 29.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares of the company's stock, valued at $7,440,095.88. This trade represents a 9.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,483 shares of company stock worth $2,752,341. 2.70% of the stock is currently owned by 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.