Burford Brothers Inc. purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,996 shares of the industrial products company's stock, valued at approximately $685,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in MLI. William Blair Investment Management LLC bought a new stake in Mueller Industries in the fourth quarter valued at approximately $201,376,000. Norges Bank bought a new stake in Mueller Industries in the fourth quarter valued at approximately $117,351,000. Invesco Ltd. boosted its holdings in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after acquiring an additional 933,498 shares during the last quarter. FMR LLC boosted its holdings in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after acquiring an additional 845,031 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Mueller Industries by 169.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after acquiring an additional 665,413 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.
Insider Transactions at Mueller Industries
In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the transaction, the director directly owned 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock valued at $2,198,600 over the last ninety days. 2.70% of the stock is owned by company insiders.
Mueller Industries Trading Up 0.7%
MLI stock traded up $0.63 during trading on Friday, hitting $86.25. The company had a trading volume of 965,822 shares, compared to its average volume of 1,045,432. The business has a 50-day moving average of $78.08 and a 200-day moving average of $78.02. Mueller Industries, Inc. has a one year low of $59.70 and a one year high of $96.81. The stock has a market cap of $9.54 billion, a PE ratio of 15.71 and a beta of 1.01.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.
Mueller Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Friday, June 6th. Mueller Industries's payout ratio is 18.21%.
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.
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