Janus Henderson Group PLC boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 202.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438,348 shares of the industrial products company's stock after acquiring an additional 293,245 shares during the period. Janus Henderson Group PLC owned about 0.39% of Mueller Industries worth $34,801,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Graham Capital Management L.P. bought a new position in Mueller Industries in the fourth quarter worth about $476,000. Ethic Inc. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $407,000. Deutsche Bank AG increased its stake in shares of Mueller Industries by 85.1% in the fourth quarter. Deutsche Bank AG now owns 122,884 shares of the industrial products company's stock valued at $9,752,000 after purchasing an additional 56,488 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Mueller Industries by 11.7% in the fourth quarter. EP Wealth Advisors LLC now owns 3,701 shares of the industrial products company's stock valued at $294,000 after purchasing an additional 389 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Mueller Industries by 8,689.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 68,715 shares of the industrial products company's stock valued at $5,453,000 after purchasing an additional 69,515 shares during the period. Institutional investors own 94.50% of the company's stock.
Insider Buying and Selling at Mueller Industries
In related news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the firm's 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 transaction, the director now owns 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by company insiders.
Mueller Industries Trading Up 0.1%
Shares of NYSE:MLI opened at $79.16 on Thursday. The firm's 50 day moving average is $75.37 and its two-hundred day moving average is $79.76. Mueller Industries, Inc. has a 52 week low of $53.53 and a 52 week high of $96.81. The firm has a market capitalization of $8.76 billion, a P/E ratio of 14.91 and a beta of 1.03.
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, beating the consensus estimate of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The company had revenue of $1 billion for the quarter, compared to analyst estimates 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 paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries's payout ratio is currently 18.21%.
Mueller Industries Company Profile
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Free Report)
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.
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