Perpetual Ltd Increases Position in Mueller Industries, Inc. (NYSE:MLI)

Perpetual Ltd boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 15.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 163,804 shares of the industrial products company's stock after acquiring an additional 21,517 shares during the period. Perpetual Ltd owned about 0.15% of Mueller Industries worth $12,472,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fifth Third Bancorp boosted its holdings in shares of Mueller Industries by 6.1% during the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock worth $282,000 after purchasing an additional 213 shares during the last quarter. GAMMA Investing LLC lifted its position in Mueller Industries by 10,616.0% during the first quarter. GAMMA Investing LLC now owns 86,800 shares of the industrial products company's stock worth $6,609,000 after buying an additional 85,990 shares during the period. US Bancorp DE boosted its stake in Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after buying an additional 537 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Mueller Industries by 1.1% in the 1st quarter. State of Alaska Department of Revenue now owns 33,325 shares of the industrial products company's stock valued at $2,536,000 after buying an additional 355 shares during the period. Finally, Baker Ellis Asset Management LLC acquired a new position in shares of Mueller Industries during the 1st quarter valued at about $3,264,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of MLI stock opened at $80.30 on Friday. The firm's 50-day simple moving average is $75.93 and its 200-day simple moving average is $77.88. Mueller Industries, Inc. has a 1-year low of $55.20 and a 1-year high of $96.81. The firm has a market cap of $8.88 billion, a P/E ratio of 14.63 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.25 per share. 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 1.25%. Mueller Industries's payout ratio is 18.21%.

Insider Buying and Selling

In related news, Director John B. Hansen sold 3,130 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $2,910,117.90. The trade was a 29.38% decrease in their position. 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. 2.70% of the stock is currently owned by company 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.

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