Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by LSV Asset Management

LSV Asset Management lifted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 82.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,435,300 shares of the industrial products company's stock after buying an additional 649,250 shares during the period. LSV Asset Management owned approximately 1.26% of Mueller Industries worth $67,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MLI. Fifth Third Bancorp grew its stake in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC grew its position in Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company's stock valued at $28,000 after buying an additional 299 shares during the period. Beaird Harris Wealth Management LLC purchased a new stake in Mueller Industries during the third quarter valued at approximately $30,000. Adirondack Trust Co. bought a new position in Mueller Industries in the third quarter worth approximately $45,000. Finally, Versant Capital Management Inc boosted its stake in shares of Mueller Industries by 100.0% during the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company's stock worth $46,000 after acquiring an additional 487 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Insider Buying and Selling

In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries 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 sale, the chief financial officer now owns 313,529 shares in the company, valued at $17,949,535.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 313,529 shares of the company's stock, valued at approximately $17,949,535.25. 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 4,000 shares of Mueller Industries stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the sale, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,716 shares of company stock worth $5,806,311. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Down 0.1 %

NYSE:MLI traded down $0.07 during trading hours on Friday, hitting $56.81. 482,666 shares of the stock traded hands, compared to its average volume of 705,536. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 11.38 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $59.59. The stock has a 50 day moving average price of $53.25 and a 200 day moving average price of $47.85.

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

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This is a positive change from Mueller Industries's previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. Mueller Industries's dividend payout ratio is 16.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com lowered Mueller Industries from a "buy" rating to a "hold" rating in a research note on Monday, January 22nd. Northcoast Research reaffirmed a "neutral" rating on shares of Mueller Industries in a research note 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.