Tidal Investments LLC Boosts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Tidal Investments LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 629.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,102 shares of the industrial products company's stock after buying an additional 238,261 shares during the period. Tidal Investments LLC owned approximately 0.24% of Mueller Industries worth $21,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. William Blair Investment Management LLC bought a new stake in Mueller Industries in the 4th quarter valued at about $201,376,000. Norges Bank bought a new stake in Mueller Industries during the 4th quarter worth approximately $117,351,000. Invesco Ltd. increased its holdings in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares in the last quarter. FMR LLC increased its holdings in Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after purchasing an additional 845,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings 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 in the last quarter. 94.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $743,400.00. Following the transaction, the director now owns 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was 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 owns 93,914 shares in the company, valued at $7,331,865.98. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 Stock Performance

MLI traded down $0.24 during midday trading on Friday, reaching $75.86. 628,638 shares of the company were exchanged, compared to its average volume of 937,603. The company's fifty day moving average price is $75.03 and its 200 day moving average price is $79.40. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 14.29 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data 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 firm 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 Dividend Announcement

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. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, June 6th. Mueller Industries's dividend payout ratio is currently 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.