Graham Capital Management L.P. bought a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the industrial products company's stock, valued at approximately $476,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in Mueller Industries by 0.5% during the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after acquiring an additional 170 shares during the period. CIBC Asset Management Inc grew its stake in Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after buying an additional 174 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Mueller Industries by 5.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after buying an additional 187 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of Mueller Industries by 2.3% during the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after acquiring an additional 194 shares during the period. Finally, Texas Yale Capital Corp. boosted its position in shares of Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.
Insider Activity at Mueller Industries
In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm's 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 sale, the director now owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott Jay Goldman sold 16,483 shares of the company's 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 transaction, the director now owns 39,615 shares of the company's stock, valued at $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. In the last three months, insiders have sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is owned by insiders.
Mueller Industries Price Performance
MLI traded down $0.75 during trading on Wednesday, hitting $77.14. 78,064 shares of the stock traded hands, compared to its average volume of 929,911. The business has a 50 day moving average price of $75.26 and a 200 day moving average price of $79.64. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 14.53 and a beta of 1.03.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1 billion.
Mueller Industries Announces Dividend
The business 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 dividend on an annualized basis and a dividend yield of 1.30%. Mueller Industries's payout ratio is currently 18.21%.
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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