Alps Advisors Inc. Has $11.32 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Alps Advisors Inc. lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,727 shares of the industrial products company's stock after buying an additional 9,710 shares during the quarter. Alps Advisors Inc. owned about 0.13% of Mueller Industries worth $11,324,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Golden State Wealth Management LLC grew its holdings in Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the fourth quarter valued at approximately $32,000. Wayfinding Financial LLC acquired a new position in Mueller Industries during the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries during the first quarter valued at approximately $40,000. Finally, Quarry LP acquired a new position in Mueller Industries during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the transaction, the director directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director directly owned 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Price Performance

Shares of Mueller Industries stock traded up $0.63 on Friday, hitting $86.25. The company had a trading volume of 965,822 shares, compared to its average volume of 1,047,427. The firm has a market capitalization of $9.54 billion, a P/E ratio of 15.71 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $60.35 and a twelve month high of $96.81. The stock has a 50-day moving average of $78.08 and a 200-day moving average of $77.98.

Mueller Industries (NYSE:MLI - Get Free Report) last announced 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. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is currently 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.