D.A. Davidson & CO. Buys New Position in Mueller Industries, Inc. (NYSE:MLI)

D.A. Davidson & CO. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 4,166 shares of the industrial products company's stock, valued at approximately $317,000.

Several other hedge funds have also modified their holdings of the stock. Golden State Wealth Management LLC increased its holdings in Mueller Industries by 103.1% during the 1st 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 last quarter. Benjamin Edwards Inc. increased its holdings in Mueller Industries by 5.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after purchasing an additional 187 shares during the last quarter. Texas Yale Capital Corp. increased its holdings in Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Monument Capital Management increased its holdings in Mueller Industries by 4.4% during the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock worth $373,000 after purchasing an additional 206 shares during the last quarter. Finally, Nebula Research & Development LLC increased its holdings in Mueller Industries by 1.4% during the 4th quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock worth $1,197,000 after purchasing an additional 213 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Up 0.7%

MLI stock opened at $86.25 on Friday. Mueller Industries, Inc. has a 52-week low of $59.70 and a 52-week high of $96.81. The stock's 50 day moving average is $78.08 and its two-hundred day moving average is $78.02. The company has a market capitalization of $9.54 billion, a PE ratio of 15.71 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.25 dividend. 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 1.16%. Mueller Industries's dividend payout ratio (DPR) is 18.21%.

Insider Activity at Mueller Industries

In related news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director owned 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the transaction, the director owned 39,615 shares of the company's stock, valued at $2,910,117.90. This trade represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $2,198,600 in the last 90 days. 2.70% of the stock is currently owned by company 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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