Price T Rowe Associates Inc. MD Has $24.67 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Price T Rowe Associates Inc. MD grew its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 188.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 310,824 shares of the industrial products company's stock after purchasing an additional 203,053 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.27% of Mueller Industries worth $24,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Harvest Investment Services LLC acquired a new stake in Mueller Industries during the 4th quarter worth about $201,000. Massar Capital Management LP acquired a new stake in shares of Mueller Industries during the fourth quarter worth approximately $2,044,000. Hsbc Holdings PLC grew its position in Mueller Industries by 72.9% during the fourth quarter. Hsbc Holdings PLC now owns 24,050 shares of the industrial products company's stock valued at $1,920,000 after purchasing an additional 10,138 shares in the last quarter. Stifel Financial Corp increased its stake in Mueller Industries by 16.3% in the 4th quarter. Stifel Financial Corp now owns 215,837 shares of the industrial products company's stock valued at $17,129,000 after buying an additional 30,247 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Mueller Industries by 61.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,074 shares of the industrial products company's stock worth $1,038,000 after buying an additional 4,962 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now directly owns 39,615 shares in the company, valued at $2,910,117.90. This trade represents a 29.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Up 0.7 %

Shares of Mueller Industries stock traded up $0.50 on Wednesday, hitting $74.31. 65,329 shares of the company traded hands, compared to its average volume of 923,352. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The company has a market cap of $8.22 billion, a PE ratio of 13.99 and a beta of 1.03. The company has a 50-day moving average price of $75.77 and a 200 day moving average price of $79.89.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is 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.