Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 465,438 shares of the industrial products company's stock after acquiring an additional 88,799 shares during the period. Nuveen Asset Management LLC owned approximately 0.41% of Mueller Industries worth $36,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of Mueller Industries by 0.5% during the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after purchasing an additional 170 shares during the period. CIBC Asset Management Inc lifted its position in Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock valued at $274,000 after buying an additional 174 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Mueller Industries by 5.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after buying an additional 187 shares during the period. Caprock Group LLC increased its position in shares of Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after acquiring an additional 194 shares in the last quarter. Finally, Texas Yale Capital Corp. increased its position in shares of Mueller Industries by 6.0% in the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after acquiring an additional 200 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now directly owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 29,613 shares of company stock valued at $2,198,600. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded down $0.24 during midday trading on Monday, hitting $75.86. 628,638 shares of the company's stock traded hands, compared to its average volume of 937,603. The firm's fifty day moving average price is $75.03 and its two-hundred day moving average price is $79.30. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The company has a market cap of $8.39 billion, a PE ratio of 14.29 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Mueller Industries's payout ratio is currently 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.