Deutsche Bank AG Buys 56,488 Shares of Mueller Industries, Inc. (NYSE:MLI)

Deutsche Bank AG increased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 85.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,884 shares of the industrial products company's stock after acquiring an additional 56,488 shares during the period. Deutsche Bank AG owned about 0.11% of Mueller Industries worth $9,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. EP Wealth Advisors LLC raised its position in Mueller Industries by 11.7% in the fourth quarter. EP Wealth Advisors LLC now owns 3,701 shares of the industrial products company's stock worth $294,000 after acquiring an additional 389 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Mueller Industries by 8,689.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 68,715 shares of the industrial products company's stock worth $5,453,000 after purchasing an additional 69,515 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Mueller Industries by 20.1% in the 4th quarter. Cetera Investment Advisers now owns 15,732 shares of the industrial products company's stock worth $1,248,000 after purchasing an additional 2,628 shares during the period. Centiva Capital LP lifted its stake in Mueller Industries by 137.3% in the fourth quarter. Centiva Capital LP now owns 38,635 shares of the industrial products company's stock valued at $3,066,000 after purchasing an additional 22,353 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in Mueller Industries in the fourth quarter valued at approximately $1,346,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of NYSE MLI traded down $1.20 during trading on Thursday, reaching $76.22. 48,044 shares of the stock traded hands, compared to its average volume of 930,675. The company has a 50-day moving average of $75.21 and a 200-day moving average of $79.62. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81. The stock has a market capitalization of $8.43 billion, a P/E ratio of 14.35 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. Mueller Industries's payout ratio is 18.21%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director now owns 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% 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. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 100,082 shares in the company, 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. Over the last three months, insiders have sold 29,613 shares of company stock valued at $2,198,600. Insiders own 2.70% of the company's stock.

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.