Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,793 shares of the industrial products company's stock after acquiring an additional 13,446 shares during the period. ProShare Advisors LLC's holdings in Mueller Industries were worth $2,920,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MLI. William Blair Investment Management LLC purchased a new position in shares of Mueller Industries during the 4th quarter worth about $201,376,000. Norges Bank purchased a new position in shares of Mueller Industries during the 4th quarter worth about $117,351,000. Invesco Ltd. lifted its holdings in shares of 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 acquiring an additional 933,498 shares during the period. FMR LLC lifted its holdings in shares of 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 acquiring an additional 845,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of 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 acquiring an additional 665,413 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director now owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries 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 owns 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,613 shares of company stock worth $2,198,600. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Down 0.3%

Shares of MLI stock traded down $0.24 during trading hours on Friday, hitting $75.86. 628,638 shares of the company were exchanged, compared to its average volume of 935,721. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The firm has a fifty day moving average of $75.03 and a 200 day moving average of $79.51. The firm has a market cap of $8.39 billion, a PE ratio of 14.29 and a beta of 1.03.

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

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.32%. Mueller Industries's payout ratio is 18.21%.

Mueller Industries Company 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.