Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Rhumbline Advisers

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

Several other hedge funds have also modified their holdings of MLI. New Age Alpha Advisors LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at about $32,000. Quarry LP acquired a new position in Mueller Industries in the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the 4th quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries during the 4th quarter worth approximately $53,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Mueller Industries during the 4th quarter worth approximately $53,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

NYSE MLI traded up $0.19 on Friday, hitting $77.40. The company had a trading volume of 843,391 shares, compared to its average volume of 944,883. The company has a market capitalization of $8.56 billion, a PE ratio of 14.58 and a beta of 1.03. The company's fifty day moving average price is $74.87 and its 200-day moving average price is $78.31. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81.

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 company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid 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 yield of 1.29%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

Insiders Place Their Bets

In other news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director now owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock valued at $2,198,600 in the last 90 days. 2.70% of the stock is owned by insiders.

About Mueller Industries

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.