SG Capital Management LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 437,304 shares of the industrial products company's stock, valued at approximately $34,704,000. Mueller Industries accounts for about 3.4% of SG Capital Management LLC's investment portfolio, making the stock its 6th largest position. SG Capital Management LLC owned approximately 0.38% of Mueller Industries at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in MLI. Arizona State Retirement System boosted its holdings in Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after acquiring an additional 170 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after acquiring an additional 174 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Mueller Industries by 5.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after acquiring an additional 187 shares in the last quarter. Caprock Group LLC boosted its holdings in Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after acquiring an additional 194 shares in the last quarter. Finally, Texas Yale Capital Corp. boosted its holdings in Mueller Industries by 6.0% in the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.
Insider Activity
In related news, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director now directly owns 93,914 shares in the company, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now owns 39,615 shares in the company, valued at $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock worth $2,198,600 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.
Mueller Industries Price Performance
Shares of MLI stock traded down $0.92 during trading hours on Monday, reaching $78.46. The company had a trading volume of 354,589 shares, compared to its average volume of 931,379. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 month high of $96.81. The business has a fifty day simple moving average of $75.26 and a 200-day simple moving average of $79.65. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 14.78 and a beta of 1.03.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.
Mueller Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Mueller Industries's dividend payout ratio is presently 18.21%.
Mueller Industries Profile
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Free Report)
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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