Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,697 shares of the industrial products company's stock, valued at approximately $434,000.
A number of other large investors also recently modified their holdings of the business. Nuveen LLC bought a new stake in Mueller Industries during the 1st quarter valued at $54,072,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Mueller Industries by 169.1% during the 4th 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 buying an additional 665,413 shares during the period. SG Capital Management LLC bought a new stake in shares of Mueller Industries during the 4th quarter worth about $34,704,000. Northern Trust Corp boosted its holdings in shares of Mueller Industries by 28.3% in the fourth quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after acquiring an additional 338,902 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Mueller Industries by 5.6% during the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after acquiring an additional 327,479 shares during the period. 94.50% of the stock is currently owned by institutional investors.
Mueller Industries Trading Down 0.7%
NYSE:MLI traded down $0.65 during midday trading on Friday, hitting $91.51. 591,312 shares of the stock were exchanged, compared to its average volume of 1,017,340. Mueller Industries, Inc. has a one year low of $65.24 and a one year high of $96.81. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 14.53 and a beta of 1.02. The business has a 50-day moving average price of $83.00 and a two-hundred day moving average price of $79.16.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. The firm's revenue for the quarter was up 14.1% on a year-over-year basis.
Mueller Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 5th. Mueller Industries's payout ratio is presently 15.87%.
Insider Buying and Selling
In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.
Mueller Industries Profile
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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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