Rhumbline Advisers Has $29.56 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Rhumbline Advisers boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 388,212 shares of the industrial products company's stock after acquiring an additional 24,117 shares during the period. Rhumbline Advisers owned approximately 0.35% of Mueller Industries worth $29,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Caprock Group LLC lifted its position in Mueller Industries by 2.3% in the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock valued at $674,000 after acquiring an additional 194 shares in the last quarter. Spire Wealth Management raised its stake in shares of Mueller Industries by 353.8% in the 4th quarter. Spire Wealth Management now owns 3,199 shares of the industrial products company's stock valued at $254,000 after purchasing an additional 2,494 shares during the period. Retirement Systems of Alabama bought a new stake in shares of Mueller Industries in the fourth quarter valued at about $11,877,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Mueller Industries by 2.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 77,397 shares of the industrial products company's stock valued at $6,142,000 after purchasing an additional 1,963 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter worth about $53,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction 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 now owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 0.2%

Shares of NYSE MLI traded up $0.19 during midday trading on Friday, reaching $77.40. The company's stock had a trading volume of 843,391 shares, compared to its average volume of 941,465. The stock has a 50 day simple moving average of $74.87 and a 200-day simple moving average of $78.59. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 14.58 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two 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 for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, June 6th. Mueller Industries's dividend payout ratio is 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.