Barlow Wealth Partners Inc. Purchases 4,779 Shares of Mueller Industries, Inc. (NYSE:MLI)

Barlow Wealth Partners Inc. boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 226,837 shares of the industrial products company's stock after buying an additional 4,779 shares during the quarter. Mueller Industries makes up approximately 2.2% of Barlow Wealth Partners Inc.'s holdings, making the stock its 21st largest holding. Barlow Wealth Partners Inc. owned about 0.21% of Mueller Industries worth $16,561,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries in the 4th quarter valued at $201,376,000. Norges Bank acquired a new position in shares of Mueller Industries in the 4th quarter valued at $117,351,000. Invesco Ltd. lifted its stake in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the period. FMR LLC lifted its stake in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Mueller Industries by 169.1% in 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 purchasing an additional 665,413 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI stock traded up $0.72 during trading hours on Friday, reaching $83.87. The company had a trading volume of 533,525 shares, compared to its average volume of 1,039,111. Mueller Industries, Inc. has a 1-year low of $55.72 and a 1-year high of $96.81. The company has a 50 day moving average of $77.01 and a 200 day moving average of $77.84. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 15.28 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last released 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. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $1 billion.

Mueller Industries Announces Dividend

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

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director owned 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Terry Hermanson sold 10,000 shares of the 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 transaction, the director owned 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This trade represents a 9.08% 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 in the last quarter. Corporate insiders own 2.70% of the company's stock.

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.