Nilsine Partners LLC Invests $1.29 Million in Mueller Industries, Inc. (NYSE:MLI)

Nilsine Partners LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,947 shares of the industrial products company's stock, valued at approximately $1,290,000.

Several other institutional investors have also recently made changes to their positions in MLI. Arizona State Retirement System increased its position in shares of Mueller Industries by 0.5% during the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock valued at $2,480,000 after acquiring an additional 170 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Mueller Industries by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock valued at $274,000 after purchasing an additional 174 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Mueller Industries by 5.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 187 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after purchasing an additional 200 shares during the period. Finally, Nebula Research & Development LLC grew its position in Mueller Industries by 1.4% during the fourth quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock valued at $1,197,000 after buying an additional 213 shares during the period. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Down 0.4%

NYSE MLI traded down $0.33 during trading hours on Wednesday, reaching $77.20. 750,428 shares of the company were exchanged, compared to its average volume of 970,824. The stock has a market capitalization of $8.54 billion, a P/E ratio of 14.06 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $55.20 and a 1 year high of $96.81. The business's 50 day simple moving average is $75.44 and its 200-day simple moving average is $77.87.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating 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 firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is 18.21%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 3,130 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director now owns 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares in the company, valued at $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock valued at $2,198,600 over the last ninety days. 2.70% of the stock is currently 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.