WBI Investments LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 858.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,690 shares of the industrial products company's stock after acquiring an additional 54,358 shares during the period. Mueller Industries accounts for 1.2% of WBI Investments LLC's holdings, making the stock its 12th biggest position. WBI Investments LLC owned 0.05% of Mueller Industries worth $4,816,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in Mueller Industries during the 4th quarter worth approximately $300,000. Merit Financial Group LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $287,000. Rhumbline Advisers increased its position in shares of Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after acquiring an additional 43,893 shares during the period. US Bancorp DE raised its stake in Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after acquiring an additional 537 shares during the last quarter. Finally, Congress Asset Management Co. lifted its position in Mueller Industries by 6.5% during the 4th quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock worth $16,081,000 after acquiring an additional 12,450 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.
Mueller Industries Stock Up 0.4%
Shares of MLI stock opened at $79.35 on Monday. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81. The stock has a market cap of $8.78 billion, a PE ratio of 14.94 and a beta of 1.03. The business has a 50-day simple moving average of $75.27 and a 200-day simple moving average of $79.67.
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 (EPS) 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 analysts' expectations of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.
Mueller Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries's dividend payout ratio (DPR) is 18.21%.
Insider Transactions at Mueller Industries
In other news, Director Terry Hermanson sold 10,000 shares of the company'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 now owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This represents a 9.08% 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 the SEC website. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction 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 owns 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $2,198,600 in the last 90 days. Insiders own 2.70% of the company's stock.
Mueller Industries Company Profile
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Free Report)
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.
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