Bridgewater Advisors Inc. Increases Holdings in Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Advisors Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 96.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,169 shares of the industrial products company's stock after purchasing an additional 28,089 shares during the period. Bridgewater Advisors Inc. owned about 0.05% of Mueller Industries worth $2,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLI. Van ECK Associates Corp raised its position in Mueller Industries by 159.2% during the fourth quarter. Van ECK Associates Corp now owns 34,473 shares of the industrial products company's stock worth $1,625,000 after acquiring an additional 21,175 shares during the last quarter. Chase Investment Counsel Corp acquired a new stake in Mueller Industries during the 4th quarter valued at $1,131,000. SummerHaven Investment Management LLC increased its position in Mueller Industries by 103.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 16,423 shares of the industrial products company's stock worth $774,000 after buying an additional 8,334 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Mueller Industries by 123.6% in the fourth quarter. Russell Investments Group Ltd. now owns 38,627 shares of the industrial products company's stock worth $1,821,000 after acquiring an additional 21,350 shares during the last quarter. Finally, Truist Financial Corp lifted its position in shares of Mueller Industries by 102.6% in the fourth quarter. Truist Financial Corp now owns 15,142 shares of the industrial products company's stock valued at $714,000 after acquiring an additional 7,668 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI traded down $2.25 during trading on Tuesday, hitting $55.82. The company's stock had a trading volume of 766,388 shares, compared to its average volume of 686,971. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $59.59. The firm's 50 day moving average price is $52.61 and its 200-day moving average price is $47.29. The stock has a market cap of $6.34 billion, a PE ratio of 11.19 and a beta of 1.08.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%. The firm had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given 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 annualized dividend and a dividend yield of 1.43%. Mueller Industries's dividend payout ratio (DPR) is currently 16.03%.

Insider Activity at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares of the company's stock, valued at $17,949,535.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the business's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the sale, the chief financial officer now owns 313,529 shares in the company, valued at approximately $17,949,535.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company's stock, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,716 shares of company stock worth $5,806,311. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MLI shares. StockNews.com cut 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 report on Friday, January 19th.

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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