Burford Brothers Inc. Makes New $685,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

Burford Brothers Inc. bought a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,996 shares of the industrial products company's stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. acquired a new stake in Mueller Industries in the first quarter valued at $317,000. Fifth Third Bancorp increased its stake in shares of Mueller Industries by 6.1% in the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock valued at $282,000 after buying an additional 213 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Mueller Industries in the first quarter valued at about $303,000. Chevy Chase Trust Holdings LLC bought a new position in shares of Mueller Industries during the first quarter worth about $4,140,000. Finally, KBC Group NV lifted its stake in shares of Mueller Industries by 391.3% in the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock worth $1,567,000 after acquiring an additional 16,387 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Down 0.5%

NYSE:MLI traded down $0.46 on Monday, reaching $85.93. 837,688 shares of the stock traded hands, compared to its average volume of 1,029,472. The company's 50 day moving average is $78.08 and its 200-day moving average is $77.98. Mueller Industries, Inc. has a 1-year low of $60.35 and a 1-year high of $96.81. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.65 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last released 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. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

Insider Activity

In other news, 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 transaction of $244,359.10. Following the completion of the transaction, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the transaction, the director owned 39,615 shares of the company's stock, valued at $2,910,117.90. This trade represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock worth $2,198,600 over the last quarter. 2.70% of the stock is currently 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.