Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by WBI Investments LLC

WBI Investments LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 858.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,690 shares of the industrial products company's stock after acquiring an additional 54,358 shares during the quarter. Mueller Industries comprises approximately 1.2% of WBI Investments LLC's portfolio, making the stock its 12th biggest holding. WBI Investments LLC owned approximately 0.05% of Mueller Industries worth $4,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP increased its stake in Mueller Industries by 5.6% in the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after purchasing an additional 327,479 shares during the last quarter. Invesco Ltd. increased its stake in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the last quarter. Geode Capital Management LLC increased its stake in Mueller Industries by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after purchasing an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Mueller Industries in the fourth quarter valued at $201,376,000. Finally, FMR LLC increased its stake in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Mueller Industries stock traded down $0.24 during trading on Friday, hitting $75.86. The company's stock had a trading volume of 628,638 shares, compared to its average volume of 935,721. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 14.29 and a beta of 1.03. The stock's fifty day moving average is $75.03 and its 200 day moving average is $79.51. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81.

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, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.32%. Mueller Industries's dividend payout ratio is presently 18.21%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated Monday, May 12th. The stock was 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. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director now 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 position. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $2,198,600 over the last three months. 2.70% of the stock is owned by insiders.

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.