Mueller Industries, Inc. (NYSE:MLI) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10,616.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,800 shares of the industrial products company's stock after acquiring an additional 85,990 shares during the period. GAMMA Investing LLC owned approximately 0.08% of Mueller Industries worth $6,609,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in Mueller Industries during the 4th quarter valued at about $32,000. Quarry LP bought a new position in Mueller Industries in the 4th quarter valued at $45,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries in the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $53,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $53,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Down 0.1%

MLI stock traded down $0.07 during trading on Wednesday, hitting $78.36. The company had a trading volume of 705,875 shares, compared to its average volume of 947,963. Mueller Industries, Inc. has a 52-week low of $54.01 and a 52-week high of $96.81. The company has a 50 day simple moving average of $74.92 and a 200-day simple moving average of $78.24. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.76 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results 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 16.05% and a return on equity of 22.97%. 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 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. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.28%. Mueller Industries's payout ratio is currently 18.21%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction 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 transaction, the director now directly owns 93,914 shares in the company, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now owns 39,615 shares of the company's stock, valued at $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 in the last ninety days. Corporate insiders own 2.70% of the company's stock.

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.