Focus Partners Advisor Solutions LLC Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Focus Partners Advisor Solutions LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,698 shares of the industrial products company's stock, valued at approximately $293,000.

Other hedge funds also recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new position in Mueller Industries in the fourth quarter valued at approximately $201,376,000. Norges Bank purchased a new stake in Mueller Industries in the fourth quarter valued at $117,351,000. Invesco Ltd. increased its holdings 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 acquiring an additional 933,498 shares during the period. FMR LLC increased its holdings in shares of Mueller Industries by 79.2% in the fourth 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 increased its position in Mueller Industries by 169.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock worth $84,029,000 after purchasing an additional 665,413 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In related news, 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 transaction of $743,400.00. Following the completion of the transaction, the director now directly owns 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the sale, the director now owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 over the last quarter. Company insiders own 2.70% of the company's stock.

Mueller Industries Trading Down 1.8%

Shares of NYSE:MLI traded down $1.44 during midday trading on Wednesday, hitting $77.00. 685,439 shares of the stock were exchanged, compared to its average volume of 937,841. The company has a 50 day moving average price of $74.90 and a 200-day moving average price of $79.17. The stock has a market cap of $8.52 billion, a P/E ratio of 14.50 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81.

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 the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.30%. Mueller Industries's payout ratio is presently 18.21%.

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.