Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Boosted by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1,539.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,549 shares of the industrial products company's stock after acquiring an additional 96,295 shares during the period. Picton Mahoney Asset Management owned 0.09% of Mueller Industries worth $7,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Golden State Wealth Management LLC increased its holdings in shares of Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries during the fourth quarter worth $32,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries in the first quarter worth $34,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries in the first quarter valued at $40,000. Finally, Quarry LP acquired a new position in Mueller Industries in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director owned 100,082 shares of the company's stock, valued at $7,440,095.88. This trade represents a 9.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 3,130 shares of the 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 transaction, the director directly owned 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Down 2.4%

NYSE:MLI traded down $2.01 on Friday, hitting $83.36. 1,050,374 shares of the stock were exchanged, compared to its average volume of 963,215. The stock has a market cap of $9.23 billion, a PE ratio of 13.23 and a beta of 1.02. The stock has a fifty day moving average of $80.86 and a 200-day moving average of $78.66. Mueller Industries, Inc. has a fifty-two week low of $62.74 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Mueller Industries's dividend payout ratio is currently 15.87%.

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.