Aviance Capital Partners LLC Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Aviance Capital Partners LLC acquired a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,037 shares of the industrial products company's stock, valued at approximately $307,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Mueller Industries by 6.1% in the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock worth $282,000 after purchasing an additional 213 shares in the last quarter. SG Americas Securities LLC acquired a new position in Mueller Industries in the first quarter worth $303,000. Chevy Chase Trust Holdings LLC acquired a new position in Mueller Industries in the first quarter worth $4,140,000. GAMMA Investing LLC boosted its stake in Mueller Industries by 10,616.0% in the first quarter. GAMMA Investing LLC now owns 86,800 shares of the industrial products company's stock worth $6,609,000 after purchasing an additional 85,990 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Mueller Industries by 3.0% in the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Up 0.9%

MLI stock opened at $83.87 on Friday. The company has a market cap of $9.28 billion, a P/E ratio of 15.28 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $55.72 and a twelve month high of $96.81. The business has a fifty day moving average of $77.01 and a 200-day moving average of $77.85.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. Mueller Industries's payout ratio is currently 18.21%.

Insider Transactions at Mueller Industries

In related news, 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 value 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 represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director owned 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% 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 90 days. 2.70% of the stock is owned by insiders.

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.

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