Lazard Asset Management LLC Has $4.37 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Lazard Asset Management LLC lifted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 40.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,096 shares of the industrial products company's stock after purchasing an additional 15,977 shares during the quarter. Lazard Asset Management LLC's holdings in Mueller Industries were worth $4,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries in the 4th quarter worth approximately $201,376,000. Norges Bank acquired a new stake in Mueller Industries during the 4th quarter valued at $117,351,000. Invesco Ltd. boosted its holdings in shares of Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares during the last quarter. FMR LLC boosted its holdings in shares of Mueller Industries by 79.2% during the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Mueller Industries by 169.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock worth $84,029,000 after purchasing an additional 665,413 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Terry Hermanson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director now directly owns 39,615 shares in the company, 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. Insiders have sold a total of 29,613 shares of company stock valued at $2,198,600 over the last quarter. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Down 0.8%

NYSE:MLI traded down $0.66 during mid-day trading on Wednesday, hitting $77.24. The company had a trading volume of 93,485 shares, compared to its average volume of 930,014. The business has a fifty day simple moving average of $75.26 and a 200-day simple moving average of $79.64. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 14.50 and a beta of 1.03.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued 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 1.29%. Mueller Industries's payout ratio is 18.21%.

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.