Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP raised its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 947,650 shares of the industrial products company's stock after acquiring an additional 8,308 shares during the quarter. Mueller Industries makes up about 1.9% of Systematic Financial Management LP's holdings, making the stock its largest holding. Systematic Financial Management LP owned 0.83% of Mueller Industries worth $75,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the fourth quarter worth about $32,000. Quarry LP acquired a new position in shares of Mueller Industries during the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $53,000. Finally, Point72 Hong Kong Ltd purchased a new position in Mueller Industries during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Down 1.5%

NYSE MLI traded down $1.16 on Thursday, reaching $76.25. 204,775 shares of the company were exchanged, compared to its average volume of 931,292. The business's fifty day moving average price is $75.21 and its 200 day moving average price is $79.62. The stock has a market capitalization of $8.44 billion, a P/E ratio of 14.35 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 dividend yield of 1.31%. The ex-dividend date is Friday, June 6th. Mueller Industries's payout ratio is 18.21%.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated Monday, May 12th. The stock was 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 in the company, 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. In the last ninety days, insiders have sold 29,613 shares of company stock worth $2,198,600. Company insiders own 2.70% of the company's stock.

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.