Lazard Asset Management LLC Increases Stock Position in Mueller Industries, Inc. (NYSE:MLI)

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

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Mueller Industries by 343.9% during the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after acquiring an additional 152,780 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Mueller Industries during the 4th quarter worth about $2,268,000. Park Avenue Securities LLC increased its holdings in Mueller Industries by 19.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company's stock worth $323,000 after purchasing an additional 652 shares during the period. Advisors Management Group Inc. ADV raised its position in Mueller Industries by 26.1% in the 4th quarter. Advisors Management Group Inc. ADV now owns 30,322 shares of the industrial products company's stock valued at $2,406,000 after purchasing an additional 6,280 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Mueller Industries in the 4th quarter valued at about $287,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of Mueller Industries stock traded down $0.92 on Monday, reaching $78.46. 354,589 shares of the company were exchanged, compared to its average volume of 931,379. The stock's 50 day moving average price is $75.27 and its 200-day moving average price is $79.67. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The company has a market cap of $8.68 billion, a P/E ratio of 14.78 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 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is 18.21%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 3,130 shares of the stock in a transaction 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 transaction, the director now directly owns 93,914 shares of the company's stock, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director now owns 100,082 shares in the company, valued at $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock valued at $2,198,600 in the last ninety days. Insiders own 2.70% of the company's stock.

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.