TD Private Client Wealth LLC Has $666,000 Stake in Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 218.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,747 shares of the industrial products company's stock after buying an additional 6,002 shares during the period. TD Private Client Wealth LLC's holdings in Mueller Industries were worth $666,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MLI. William Blair Investment Management LLC acquired a new position in Mueller Industries in the fourth quarter valued at approximately $201,376,000. Norges Bank acquired a new position in Mueller Industries in the fourth quarter valued at approximately $117,351,000. Invesco Ltd. raised its holdings in Mueller Industries by 50.3% in the fourth 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 raised its holdings in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after purchasing an additional 845,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Mueller Industries by 169.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock worth $84,029,000 after purchasing an additional 665,413 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction 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 sale, the director directly owned 39,615 shares in the company, valued at $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction 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 sale, the director owned 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08% 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. Company insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

MLI traded up $0.53 during mid-day trading on Friday, hitting $86.15. The stock had a trading volume of 307,253 shares, compared to its average volume of 1,025,631. The stock's fifty day simple moving average is $77.87 and its 200-day simple moving average is $77.98. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 15.70 and a beta of 1.01. Mueller Industries, Inc. has a 1-year low of $59.70 and a 1-year high of $96.81.

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 the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion for 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 announced 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 was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.16%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

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.