Bancreek Capital Management LP Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Bancreek Capital Management LP purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 54,730 shares of the industrial products company's stock, valued at approximately $4,167,000. Mueller Industries makes up about 6.2% of Bancreek Capital Management LP's investment portfolio, making the stock its 12th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Mueller Industries during the 4th quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries during the 1st quarter valued at about $40,000. Quarry LP acquired a new position in Mueller Industries during the 4th quarter valued at about $45,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter valued at about $47,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the transaction, the director owned 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director owned 100,082 shares in the company, valued at approximately $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. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

Mueller Industries stock traded down $0.57 during midday trading on Thursday, hitting $82.58. 234,972 shares of the company were exchanged, compared to its average volume of 1,032,134. The firm has a market capitalization of $9.14 billion, a PE ratio of 15.03 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. The business has a fifty day simple moving average of $76.59 and a two-hundred day simple moving average of $77.85.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, June 6th. Mueller Industries's payout ratio is currently 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.