OneDigital Investment Advisors LLC Takes Position in Mueller Industries, Inc. (NYSE:MLI)

OneDigital Investment Advisors LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,569 shares of the industrial products company's stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in shares of Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 168 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the 4th quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the 1st quarter valued at about $40,000. Quarry LP bought a new position in shares of Mueller Industries during the 4th quarter valued at about $45,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Mueller Industries during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction that occurred 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 completion of the sale, the director owned 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Up 0.4%

Shares of Mueller Industries stock traded up $0.31 during trading on Wednesday, hitting $84.90. 756,008 shares of the stock traded hands, compared to its average volume of 1,046,119. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 15.47 and a beta of 1.01. The firm's fifty day moving average is $78.51 and its 200-day moving average is $78.06. Mueller Industries, Inc. has a 52 week low of $61.48 and a 52 week high of $96.81.

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

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. Mueller Industries's dividend payout ratio is currently 18.21%.

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.