Insight Wealth Strategies LLC decreased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 92.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,991 shares of the industrial products company's stock after selling 34,193 shares during the period. Insight Wealth Strategies LLC's holdings in Mueller Industries were worth $228,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in Mueller Industries by 5.6% in the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after buying an additional 327,479 shares in the last quarter. Invesco Ltd. increased its holdings in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after buying an additional 933,498 shares in the last quarter. Geode Capital Management LLC increased its holdings in Mueller Industries by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after buying an additional 117,327 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Mueller Industries in the fourth quarter valued at $201,376,000. Finally, FMR LLC increased its holdings in 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 buying an additional 845,031 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.
Mueller Industries Stock Performance
Shares of MLI stock traded down $0.02 on Friday, reaching $77.92. 1,052,776 shares of the company were exchanged, compared to its average volume of 940,895. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 14.67 and a beta of 1.03. The business has a 50-day moving average price of $74.84 and a 200 day moving average price of $78.84. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81.
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. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.
Mueller Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid 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 1.28%. Mueller Industries's dividend payout ratio is presently 18.21%.
Insider Activity at Mueller Industries
In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the transaction, the director now directly owns 93,914 shares in the company, valued at $7,331,865.98. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction dated 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 transaction, the director now owns 39,615 shares in the company, valued at $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,613 shares of company stock valued at $2,198,600. Corporate insiders own 2.70% of the company's stock.
Mueller Industries Company Profile
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Free Report)
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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