Allianz Asset Management GmbH Boosts Stake in Mueller Industries, Inc. (NYSE:MLI)

Allianz Asset Management GmbH boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 549,235 shares of the industrial products company's stock after acquiring an additional 40,902 shares during the period. Allianz Asset Management GmbH owned 0.50% of Mueller Industries worth $41,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Golden State Wealth Management LLC grew its position in shares of Mueller Industries by 103.1% during 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 in the last quarter. Benjamin Edwards Inc. boosted its stake in Mueller Industries by 5.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after buying an additional 187 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in Mueller Industries by 4.4% during the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after buying an additional 187 shares during the last quarter. Texas Yale Capital Corp. grew its holdings in Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock valued at $283,000 after buying an additional 200 shares in the last quarter. Finally, Monument Capital Management increased its stake in Mueller Industries by 4.4% in the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock worth $373,000 after acquiring an additional 206 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 39,615 shares of the company's stock, valued at $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The sale 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 sale, the director directly owned 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

Shares of MLI traded up $0.41 during mid-day trading on Friday, hitting $88.71. 877,205 shares of the stock were exchanged, compared to its average volume of 1,748,479. The company has a market cap of $9.82 billion, a PE ratio of 14.08 and a beta of 1.01. Mueller Industries, Inc. has a 52-week low of $62.74 and a 52-week high of $96.81. The firm has a 50-day moving average of $79.92 and a two-hundred day moving average of $78.41.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. The business's revenue was up 14.1% on a year-over-year basis.

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, June 6th. Mueller Industries's payout ratio is 15.87%.

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.