Focus Partners Advisor Solutions LLC Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Focus Partners Advisor Solutions LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,698 shares of the industrial products company's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. Barclays PLC grew its position in Mueller Industries by 343.9% during the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after acquiring an additional 152,780 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Mueller Industries by 19.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company's stock worth $323,000 after buying an additional 652 shares during the period. Merit Financial Group LLC acquired a new position in Mueller Industries during the 4th quarter worth about $287,000. Atomi Financial Group Inc. lifted its holdings in Mueller Industries by 9.5% during the 4th quarter. Atomi Financial Group Inc. now owns 4,315 shares of the industrial products company's stock worth $342,000 after buying an additional 374 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Mueller Industries by 15.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 42,922 shares of the industrial products company's stock worth $3,406,000 after buying an additional 5,767 shares during the period. Institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 16,483 shares of the 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 now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock worth $2,198,600 over the last 90 days. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Stock Down 0.6%

MLI traded down $0.49 during midday trading on Friday, hitting $77.46. 120,808 shares of the company were exchanged, compared to its average volume of 935,299. The firm has a market capitalization of $8.57 billion, a P/E ratio of 14.64 and a beta of 1.03. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The firm's 50 day moving average price is $74.86 and its 200-day moving average price is $79.03.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results 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. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given 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 dividend yield of 1.29%. Mueller Industries's dividend 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.