Mueller Industries, Inc. (NYSE:MLI) is Yorktown Management & Research Co Inc's Largest Position

Yorktown Management & Research Co Inc increased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 100.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 39,800 shares of the industrial products company's stock after acquiring an additional 19,900 shares during the period. Mueller Industries makes up about 2.0% of Yorktown Management & Research Co Inc's holdings, making the stock its largest holding. Yorktown Management & Research Co Inc's holdings in Mueller Industries were worth $1,877,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Mueller Industries by 0.7% during the first quarter. BlackRock Inc. now owns 8,779,865 shares of the industrial products company's stock worth $475,606,000 after buying an additional 64,501 shares during the period. Vanguard Group Inc. boosted its position in shares of Mueller Industries by 1.9% during the first quarter. Vanguard Group Inc. now owns 6,341,321 shares of the industrial products company's stock worth $343,510,000 after buying an additional 116,393 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Mueller Industries by 90.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company's stock worth $237,633,000 after buying an additional 2,399,862 shares during the period. Pacer Advisors Inc. boosted its position in shares of Mueller Industries by 194.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company's stock worth $135,938,000 after buying an additional 1,903,745 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Mueller Industries by 284.1% during the first quarter. First Trust Advisors LP now owns 2,701,964 shares of the industrial products company's stock worth $198,540,000 after buying an additional 1,998,534 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of NYSE MLI traded down $0.06 during mid-day trading on Tuesday, hitting $53.95. The company had a trading volume of 393,186 shares, compared to its average volume of 666,522. The company has a market capitalization of $6.13 billion, a PE ratio of 10.15 and a beta of 1.08. Mueller Industries, Inc. has a 1-year low of $32.94 and a 1-year high of $54.64. The business's 50-day simple moving average is $51.20 and its 200 day simple moving average is $45.60.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. Mueller Industries's dividend payout ratio (DPR) is currently 15.05%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at $887,940. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now owns 18,000 shares in the company, valued at approximately $887,940. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MLI has been the subject of several research analyst reports. StockNews.com lowered Mueller Industries from a "buy" rating to a "hold" rating in a research report on Monday, January 22nd. Northcoast Research reiterated a "neutral" rating on shares of Mueller Industries in a research note on Friday, January 19th.

Mueller Industries 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.