Vest Financial LLC Purchases 135,003 Shares of Mueller Industries, Inc. (NYSE:MLI)

Vest Financial LLC raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 566,229 shares of the industrial products company's stock after purchasing an additional 135,003 shares during the period. Vest Financial LLC owned 0.51% of Mueller Industries worth $43,113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the fourth quarter valued at approximately $32,000. Quarry LP acquired a new position in Mueller Industries during the fourth quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries during the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the fourth quarter valued at approximately $53,000. Finally, Point72 Hong Kong Ltd acquired a new position in Mueller Industries during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Activity

In other news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value 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 represents a 29.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director now directly owns 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is owned by company insiders.

Mueller Industries Stock Up 0.2%

MLI stock traded up $0.19 during midday trading on Friday, hitting $77.40. 843,391 shares of the company traded hands, compared to its average volume of 943,087. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The business has a 50 day simple moving average of $74.87 and a 200-day simple moving average of $78.50. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 14.58 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 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 company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Mueller Industries's dividend payout ratio 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.