Mueller Industries, Inc. (NYSE:MLI) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 103.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,404 shares of the industrial products company's stock after purchasing an additional 65,323 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Mueller Industries worth $10,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new position in Mueller Industries in the 4th quarter valued at about $32,000. Quarry LP purchased a new position in Mueller Industries in the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries during the 4th quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mueller Industries during the 4th quarter worth approximately $53,000. Finally, City State Bank purchased a new position in shares of Mueller Industries during the 4th quarter valued at approximately $58,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 39,615 shares of the company's stock, valued at $2,910,117.90. This represents a 29.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 2.8 %

MLI stock opened at $75.56 on Monday. The firm has a 50 day simple moving average of $75.96 and a 200-day simple moving average of $79.92. The company has a market capitalization of $8.36 billion, a P/E ratio of 14.23 and a beta of 0.96. 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 announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is currently 18.21%.

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.

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