UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in Mueller Industries, Inc. (NYSE:MLI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 20.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,355 shares of the industrial products company's stock after buying an additional 38,507 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of Mueller Industries worth $18,043,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MLI. New Age Alpha Advisors LLC purchased a new stake in shares of Mueller Industries in the fourth quarter worth $32,000. Quarry LP purchased a new stake in Mueller Industries during the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries during the 4th quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mueller Industries in the fourth quarter worth about $53,000. Finally, Point72 Hong Kong Ltd purchased a new position in Mueller Industries in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded down $0.52 during trading on Monday, reaching $77.35. 691,682 shares of the stock traded hands, compared to its average volume of 939,889. The stock has a market cap of $8.56 billion, a P/E ratio of 14.57 and a beta of 1.03. The stock has a 50-day moving average of $74.80 and a two-hundred day moving average of $78.68. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81.

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

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's payout ratio is currently 18.21%.

Insider Activity at Mueller Industries

In other news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on 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 in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the sale, the director now directly owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock valued at $2,198,600 over the last ninety days. Insiders own 2.70% of the company's stock.

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.