SG Americas Securities LLC Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

SG Americas Securities LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,979 shares of the industrial products company's stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in Mueller Industries in the fourth quarter worth $201,376,000. Norges Bank bought a new position in Mueller Industries in the 4th quarter worth $117,351,000. Invesco Ltd. lifted its position in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares during the period. FMR LLC boosted its stake in shares of Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Mueller Industries by 169.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after purchasing an additional 665,413 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director now owns 93,914 shares of the company's stock, valued at $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

MLI stock opened at $79.28 on Friday. Mueller Industries, Inc. has a 1 year low of $55.20 and a 1 year high of $96.81. The firm has a 50-day moving average of $75.74 and a 200 day moving average of $77.88. The company has a market cap of $8.77 billion, a P/E ratio of 14.44 and a beta of 1.03.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued 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 yield of 1.26%. Mueller Industries's dividend payout ratio (DPR) 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.

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