D.A. Davidson & CO. Buys Shares of 4,166 Mueller Industries, Inc. (NYSE:MLI)

D.A. Davidson & CO. purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,166 shares of the industrial products company's stock, valued at approximately $317,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Mueller Industries in the fourth quarter worth $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries in the first quarter worth $40,000. Quarry LP purchased a new stake in shares of Mueller Industries in the fourth quarter worth $45,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Mueller Industries in the fourth quarter worth $53,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction, the director directly owned 39,615 shares of the company's stock, valued at $2,910,117.90. This represents a 29.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction 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 transaction, the director directly owned 100,082 shares in the company, valued at approximately $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. Insiders have sold a total of 29,613 shares of company stock valued at $2,198,600 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Down 1.5%

Shares of NYSE MLI traded down $1.31 during trading on Tuesday, reaching $84.56. The company had a trading volume of 460,461 shares, compared to its average volume of 1,045,711. Mueller Industries, Inc. has a 12-month low of $60.35 and a 12-month high of $96.81. The stock has a market cap of $9.36 billion, a PE ratio of 15.40 and a beta of 1.01. The business's 50-day moving average is $78.08 and its 200 day moving average is $77.98.

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

Mueller Industries Announces Dividend

The firm also recently declared 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 1.18%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is currently 18.21%.

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.