54,730 Shares in Mueller Industries, Inc. (NYSE:MLI) Acquired by Bancreek Capital Management LP

Bancreek Capital Management LP purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 54,730 shares of the industrial products company's stock, valued at approximately $4,167,000. Mueller Industries accounts for about 6.2% of Bancreek Capital Management LP's portfolio, making the stock its 12th largest holding.

Several other institutional investors have also modified their holdings of MLI. Fifth Third Bancorp increased its position in shares of Mueller Industries by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock worth $282,000 after purchasing an additional 213 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Mueller Industries during the 1st quarter worth about $303,000. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Mueller Industries during the 1st quarter worth about $4,140,000. GAMMA Investing LLC increased its position in shares of Mueller Industries by 10,616.0% during the 1st quarter. GAMMA Investing LLC now owns 86,800 shares of the industrial products company's stock worth $6,609,000 after purchasing an additional 85,990 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Mueller Industries by 3.0% during the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after purchasing an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE:MLI traded up $0.72 during midday trading on Friday, reaching $83.87. 533,525 shares of the company's stock were exchanged, compared to its average volume of 1,039,111. The firm's 50 day simple moving average is $77.01 and its two-hundred day simple moving average is $77.85. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of 15.28 and a beta of 1.01. Mueller Industries, Inc. has a fifty-two week low of $55.72 and a fifty-two week high of $96.81.

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 analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, June 6th. Mueller Industries's dividend payout ratio is currently 18.21%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction dated 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 transaction, the director directly owned 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hansen sold 3,130 shares of Mueller Industries 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 transaction, the director directly owned 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 in the last three months. 2.70% of the stock is owned by corporate 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.