Graham Capital Management L.P. Makes New $476,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

Graham Capital Management L.P. purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,000 shares of the industrial products company's stock, valued at approximately $476,000.

Several other institutional investors have also recently added to or reduced their stakes in MLI. William Blair Investment Management LLC acquired a new position in Mueller Industries in the fourth quarter valued at $201,376,000. Norges Bank acquired a new position in Mueller Industries in the fourth quarter valued at $117,351,000. 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. 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. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Mueller Industries by 169.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after purchasing an additional 665,413 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 Terry Hermanson sold 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director now directly owns 100,082 shares of the company's stock, valued at $7,440,095.88. This represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

Mueller Industries stock traded up $0.30 during trading on Friday, hitting $79.35. The company's stock had a trading volume of 555,440 shares, compared to its average volume of 933,695. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03. The stock's fifty day moving average is $75.27 and its 200 day moving average is $79.69. 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 is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.26%. Mueller Industries's dividend payout ratio is presently 18.21%.

Mueller Industries Company 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.