US Asset Management LLC Buys Shares of 3,490 Mueller Industries, Inc. (NYSE:MLI)

US Asset Management LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,490 shares of the industrial products company's stock, valued at approximately $277,000.

Several other hedge funds have also made changes to their positions in the business. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries during the 4th quarter valued at approximately $32,000. Quarry LP acquired a new position in shares of Mueller Industries in the fourth quarter valued at approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of Mueller Industries during the fourth quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries during the fourth quarter worth $53,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Mueller Industries during the fourth quarter worth $53,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

MLI traded down $1.18 during trading on Wednesday, hitting $77.26. The stock had a trading volume of 166,761 shares, compared to its average volume of 934,148. The firm has a market capitalization of $8.55 billion, a P/E ratio of 14.54 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The company's 50-day moving average price is $74.90 and its 200 day moving average price is $79.17.

Mueller Industries (NYSE:MLI - Get Free Report) last issued 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 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, June 6th. Mueller Industries's payout ratio is 18.21%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the transaction, the director now owns 39,615 shares in the company, valued at $2,910,117.90. This trade represents a 29.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the business'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 sale, the director now directly owns 100,082 shares in the company, valued at approximately $7,440,095.88. This represents a 9.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,613 shares of company stock valued at $2,198,600. Corporate insiders own 2.70% of the company's stock.

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.