Centiva Capital LP Increases Stake in Mueller Industries, Inc. (NYSE:MLI)

Centiva Capital LP boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 137.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,635 shares of the industrial products company's stock after acquiring an additional 22,353 shares during the period. Centiva Capital LP's holdings in Mueller Industries were worth $3,066,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the sale, the director now owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This trade represents a 29.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Mueller Industries Price Performance

Shares of MLI opened at $75.21 on Tuesday. The firm has a 50-day moving average of $75.87 and a 200-day moving average of $79.94. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The company has a market cap of $8.32 billion, a PE ratio of 14.16 and a beta of 0.96.

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

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. Mueller Industries's payout ratio is 18.21%.

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.

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