4,037 Shares in Mueller Industries, Inc. (NYSE:MLI) Acquired by Aviance Capital Partners LLC

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Trust Advisors LP boosted its stake in Mueller Industries by 5.6% in the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after purchasing an additional 327,479 shares in the last quarter. Invesco Ltd. boosted its stake in Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares in the last quarter. Geode Capital Management LLC boosted its stake in Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock worth $214,763,000 after purchasing an additional 117,327 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Mueller Industries in the 4th quarter worth approximately $201,376,000. Finally, FMR LLC boosted its stake in Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after purchasing an additional 845,031 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction 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 position. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock valued at $2,198,600 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

MLI stock traded up $1.14 during trading on Tuesday, reaching $83.33. The company had a trading volume of 1,102,783 shares, compared to its average volume of 1,040,320. The firm has a 50-day simple moving average of $77.40 and a 200-day simple moving average of $77.89. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 15.18 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.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) 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 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 announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is 18.21%.

Mueller Industries Company 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.