Northern Trust Corp Purchases 338,902 Shares of Mueller Industries, Inc. (NYSE:MLI)

Northern Trust Corp boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 28.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,535,625 shares of the industrial products company's stock after purchasing an additional 338,902 shares during the quarter. Northern Trust Corp owned about 1.35% of Mueller Industries worth $121,867,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Up 2.8 %

MLI stock opened at $75.56 on Friday. The company's 50-day moving average price is $75.96 and its two-hundred day moving average price is $79.87. The firm has a market cap of $8.36 billion, a P/E ratio of 14.23 and a beta of 0.96. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.32%. Mueller Industries's dividend payout ratio (DPR) 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.

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