Total Wealth Planning & Management Inc. Acquires Shares of 4,995 Mueller Industries, Inc. (NYSE:MLI)

Total Wealth Planning & Management Inc. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,995 shares of the industrial products company's stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. Barclays PLC increased its stake in shares of Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after purchasing an additional 152,780 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Mueller Industries in the fourth quarter worth $300,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Mueller Industries by 7.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,261 shares of the industrial products company's stock worth $814,000 after acquiring an additional 716 shares during the last quarter. Narwhal Capital Management boosted its position in shares of Mueller Industries by 53.7% during the fourth quarter. Narwhal Capital Management now owns 45,846 shares of the industrial products company's stock worth $3,638,000 after acquiring an additional 16,010 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Mueller Industries by 18.5% during the fourth quarter. Blue Trust Inc. now owns 6,135 shares of the industrial products company's stock worth $455,000 after acquiring an additional 957 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm'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 transaction, the director now owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed 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 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 completion of the sale, the director now owns 100,082 shares in the company, valued at $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,613 shares of company stock valued at $2,198,600. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

MLI stock traded down $0.02 during trading on Friday, hitting $77.92. 1,052,776 shares of the company's stock traded hands, compared to its average volume of 939,885. Mueller Industries, Inc. has a 52 week low of $53.53 and a 52 week high of $96.81. The business has a fifty day simple moving average of $74.84 and a 200 day simple moving average of $78.93. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.67 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is 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.