Nilsine Partners LLC Purchases Shares of 16,947 Mueller Industries, Inc. (NYSE:MLI)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in Mueller Industries in the fourth quarter valued at $32,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the first quarter valued at $40,000. Quarry LP bought a new stake in Mueller Industries in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at $47,000. Finally, Point72 Hong Kong Ltd bought a new stake in Mueller Industries in the fourth quarter valued at $53,000. 94.50% of the stock is owned by institutional investors.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director now directly owns 93,914 shares of the company's stock, valued at $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Jay Goldman sold 16,483 shares of the business'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 now directly owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. The trade was 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 over the last three months. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 0.8%

MLI opened at $73.33 on Friday. The company has a fifty day moving average price of $75.30 and a two-hundred day moving average price of $77.90. The company has a market cap of $8.11 billion, a P/E ratio of 13.36 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.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is presently 18.21%.

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.

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