ProShare Advisors LLC increased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 57.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,793 shares of the industrial products company's stock after purchasing an additional 13,446 shares during the period. ProShare Advisors LLC's holdings in Mueller Industries were worth $2,920,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of MLI. New Age Alpha Advisors LLC purchased a new position in Mueller Industries during the 4th quarter worth $32,000. Quarry LP bought a new stake in Mueller Industries in the 4th quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries in the 4th quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mueller Industries in the 4th quarter valued at about $53,000. Finally, R Squared Ltd bought a new position in shares of Mueller Industries during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 94.50% of the company's stock.
Mueller Industries Stock Down 0.3%
Mueller Industries stock traded down $0.24 during mid-day trading on Monday, reaching $75.86. 628,638 shares of the company's stock were exchanged, compared to its average volume of 937,603. The business's fifty day simple moving average is $75.03 and its 200 day simple moving average is $79.30. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The firm has a market capitalization of $8.39 billion, a PE ratio of 14.29 and a beta of 1.03.
Mueller Industries (NYSE:MLI - Get Free Report) last released its 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 net margin of 16.05% and a return on equity of 22.97%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion.
Mueller Industries Dividend Announcement
The company 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 $0.25 dividend. 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%.
Insider Buying and Selling at Mueller Industries
In related news, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 39,615 shares in the company, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the firm'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 now directly owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock valued at $2,198,600 over the last three months. 2.70% of the stock is currently owned by insiders.
Mueller Industries Company Profile
(
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.
Featured Stories
Before you consider Mueller Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.
While Mueller Industries currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
