Jacobs Levy Equity Management Inc. Has $23.51 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Jacobs Levy Equity Management Inc. increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 302.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 296,288 shares of the industrial products company's stock after purchasing an additional 222,613 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.26% of Mueller Industries worth $23,513,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. First Trust Advisors LP increased its stake in Mueller Industries by 5.6% during the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after purchasing an additional 327,479 shares in the last quarter. Invesco Ltd. boosted its position in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after acquiring an additional 933,498 shares during the last quarter. Geode Capital Management LLC boosted its position in Mueller Industries by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock worth $214,763,000 after acquiring an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Mueller Industries during the 4th quarter worth approximately $201,376,000. Finally, FMR LLC boosted its position in Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after acquiring an additional 845,031 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

NYSE:MLI traded up $0.30 during trading hours on Friday, reaching $79.35. 555,440 shares of the stock were exchanged, compared to its average volume of 933,695. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The firm has a 50 day moving average of $75.27 and a 200 day moving average of $79.69. The stock has a market cap of $8.78 billion, a PE ratio of 14.94 and a beta of 1.03.

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

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is currently 18.21%.

Insiders Place Their Bets

In other news, Director Terry Hermanson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 approximately $7,331,865.98. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $2,198,600 in the last quarter. 2.70% of the stock is currently owned by insiders.

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.