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

Alps Advisors Inc. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,727 shares of the industrial products company's stock after purchasing an additional 9,710 shares during the period. Alps Advisors Inc. owned about 0.13% of Mueller Industries worth $11,324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in Mueller Industries by 103.1% in 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 last quarter. New Age Alpha Advisors LLC purchased a new position in Mueller Industries in the fourth quarter valued at about $32,000. Wayfinding Financial LLC acquired a new stake in Mueller Industries during the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries during the first quarter valued at approximately $40,000. Finally, Quarry LP acquired a new stake in Mueller Industries during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Down 0.5%

NYSE MLI traded down $0.46 on Monday, hitting $85.93. 837,688 shares of the stock traded hands, compared to its average volume of 1,029,472. The stock has a 50-day moving average of $78.08 and a 200 day moving average of $77.98. Mueller Industries, Inc. has a twelve month low of $60.35 and a twelve month high of $96.81. The company has a market capitalization of $9.51 billion, a P/E ratio of 15.65 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director directly owned 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Terry Hermanson sold 10,000 shares of the 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 sale, the director 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. In the last ninety days, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is currently owned by company insiders.

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.