MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 45,672 Shares of Mueller Industries, Inc. (NYSE:MLI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845,344 shares of the industrial products company's stock after buying an additional 45,672 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.74% of Mueller Industries worth $67,087,000 at the end of the most recent quarter.

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

Mueller Industries Stock Performance

Mueller Industries stock traded up $0.30 on Friday, reaching $79.35. The company's stock had a trading volume of 555,440 shares, compared to its average volume of 933,695. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03. The business's fifty day moving average price is $75.27 and its 200 day moving average price is $79.69. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $1 billion for 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, June 6th. Mueller Industries's dividend payout ratio is currently 18.21%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now owns 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director now directly owns 100,082 shares in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is currently owned by corporate insiders.

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.