Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Four Tree Island Advisory LLC

Four Tree Island Advisory LLC boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,702 shares of the industrial products company's stock after acquiring an additional 7,545 shares during the quarter. Mueller Industries accounts for about 13.5% of Four Tree Island Advisory LLC's investment portfolio, making the stock its 3rd largest holding. Four Tree Island Advisory LLC owned approximately 0.23% of Mueller Industries worth $19,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. Golden State Wealth Management LLC boosted its position 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 worth $25,000 after purchasing an additional 168 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Mueller Industries during the 4th quarter worth approximately $32,000. Wayfinding Financial LLC bought a new position in Mueller Industries during the first quarter valued at $34,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries in the 1st quarter worth $40,000. Finally, Quarry LP bought a new stake in shares of Mueller Industries in the 4th quarter worth about $45,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Up 2.8%

Shares of MLI stock traded up $2.33 on Tuesday, hitting $85.75. The stock had a trading volume of 1,265,556 shares, compared to its average volume of 1,053,449. Mueller Industries, Inc. has a one year low of $62.56 and a one year high of $96.81. The business has a 50 day moving average price of $79.15 and a 200 day moving average price of $78.17. The company has a market cap of $9.49 billion, a PE ratio of 15.62 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The business's quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was 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 firm's stock in a transaction dated 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 trade represents a 29.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction 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 directly owned 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This represents a 9.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by 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.