Advisors Management Group Inc. ADV Increases Stake in Mueller Industries, Inc. (NYSE:MLI)

Advisors Management Group Inc. ADV lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,785 shares of the industrial products company's stock after acquiring an additional 3,463 shares during the quarter. Advisors Management Group Inc. ADV's holdings in Mueller Industries were worth $2,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Golden State Wealth Management LLC increased its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 168 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth about $32,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries during the first quarter worth about $40,000. Quarry LP acquired a new position in shares of Mueller Industries in the fourth quarter valued at approximately $45,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Mueller Industries in the 4th quarter valued at about $47,000. 94.50% of the stock is currently owned by institutional investors.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction on 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 sale, the director owned 39,615 shares in the company, valued at $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, 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 sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is owned by insiders.

Mueller Industries Trading Up 0.9%

Shares of MLI traded up $0.72 during midday trading on Friday, reaching $83.87. The stock had a trading volume of 533,525 shares, compared to its average volume of 1,036,365. Mueller Industries, Inc. has a one year low of $55.72 and a one year high of $96.81. The firm has a market cap of $9.28 billion, a PE ratio of 15.28 and a beta of 1.01. The firm has a 50 day simple moving average of $77.01 and a 200-day simple moving average of $77.85.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Announces Dividend

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

Mueller Industries Profile

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.