42,865 Shares in Mueller Industries, Inc. (NYSE:MLI) Acquired by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 42,865 shares of the industrial products company's stock, valued at approximately $3,264,000.

Several other institutional investors also recently bought and sold shares of the company. Rowlandmiller & PARTNERS.ADV grew its position in Mueller Industries by 4.4% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 5,375 shares of the industrial products company's stock worth $409,000 after purchasing an additional 225 shares during the period. Assenagon Asset Management S.A. increased its position in Mueller Industries by 5.6% in the first quarter. Assenagon Asset Management S.A. now owns 30,178 shares of the industrial products company's stock worth $2,298,000 after buying an additional 1,602 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Mueller Industries during the 1st quarter valued at approximately $303,000. GAMMA Investing LLC increased its stake in shares of Mueller Industries by 40.7% in the first quarter. GAMMA Investing LLC now owns 1,140 shares of the industrial products company's stock worth $87,000 after purchasing an additional 330 shares in the last quarter. Finally, Millington Financial Advisors LLC raised its position in shares of Mueller Industries by 2.3% during the 1st quarter. Millington Financial Advisors LLC now owns 34,901 shares of the industrial products company's stock valued at $2,587,000 after purchasing an additional 794 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded down $1.96 during trading hours on Thursday, hitting $76.40. The company's stock had a trading volume of 716,855 shares, compared to its average volume of 948,394. Mueller Industries, Inc. has a 12-month low of $54.01 and a 12-month high of $96.81. The company has a market cap of $8.45 billion, a PE ratio of 14.39 and a beta of 1.03. The business has a 50 day moving average price of $75.07 and a two-hundred day moving average price of $78.24.

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 for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.31%. Mueller Industries's payout ratio is currently 18.21%.

Insider Activity

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the sale, the director now directly owns 100,082 shares in the company, valued at approximately $7,440,095.88. This represents a 9.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now owns 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is currently owned by insiders.

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.