Ethic Inc. acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,123 shares of the industrial products company's stock, valued at approximately $407,000.
A number of other institutional investors and hedge funds have also made changes to their positions in MLI. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries during the fourth quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Mueller Industries during the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries in the 4th quarter valued at $53,000. Finally, R Squared Ltd purchased a new stake in Mueller Industries in the fourth quarter valued at $69,000. 94.50% of the stock is owned by institutional investors and hedge funds.
Mueller Industries Stock Performance
Shares of MLI stock opened at $79.35 on Friday. The stock's 50-day moving average is $75.27 and its two-hundred day moving average is $79.71. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.
Mueller Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.26%. Mueller Industries's dividend payout ratio is currently 18.21%.
Insiders Place Their Bets
In related news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction dated 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 sale, the director now owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were 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 directly owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by insiders.
About Mueller Industries
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI - Free Report).
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