Advisors Management Group Inc. ADV Purchases 3,463 Shares of Mueller Industries, Inc. (NYSE:MLI)

Advisors Management Group Inc. ADV increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,785 shares of the industrial products company's stock after buying an additional 3,463 shares during the quarter. Advisors Management Group Inc. ADV's holdings in Mueller Industries were worth $2,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 168 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Mueller Industries in the 4th quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the 1st quarter valued at about $40,000. Quarry LP bought a new position in Mueller Industries in the 4th quarter valued at about $45,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Mueller Industries during the fourth quarter worth approximately $47,000. 94.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction 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 approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $2,198,600 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Up 3.2%

Shares of Mueller Industries stock traded up $2.53 on Tuesday, hitting $82.00. The stock had a trading volume of 1,229,973 shares, compared to its average volume of 1,031,345. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $55.20 and a twelve month high of $96.81. The business's 50 day moving average is $76.14 and its two-hundred day moving average is $77.78.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS 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 return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, June 6th. Mueller Industries's dividend payout ratio is 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.