SG Capital Management LLC Acquires Shares of 437,304 Mueller Industries, Inc. (NYSE:MLI)

SG Capital Management LLC purchased a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 437,304 shares of the industrial products company's stock, valued at approximately $34,704,000. Mueller Industries comprises about 3.4% of SG Capital Management LLC's holdings, making the stock its 6th biggest position. SG Capital Management LLC owned about 0.38% of Mueller Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLI. Barclays PLC grew its position in shares of Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock valued at $14,613,000 after purchasing an additional 152,780 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Mueller Industries in the 4th quarter worth $2,268,000. Park Avenue Securities LLC boosted its holdings in Mueller Industries by 19.1% in the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company's stock valued at $323,000 after purchasing an additional 652 shares during the last quarter. Advisors Management Group Inc. ADV raised its position in shares of Mueller Industries by 26.1% during the 4th quarter. Advisors Management Group Inc. ADV now owns 30,322 shares of the industrial products company's stock valued at $2,406,000 after buying an additional 6,280 shares during the period. Finally, Merit Financial Group LLC purchased a new position in Mueller Industries in the fourth quarter worth approximately $287,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 39,615 shares of the company's stock, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the sale, the director now owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,613 shares of company stock worth $2,198,600. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Down 0.5%

NYSE:MLI traded down $0.40 on Wednesday, reaching $77.49. 275,546 shares of the company's stock were exchanged, compared to its average volume of 930,763. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 14.59 and a beta of 1.03. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81. The business has a fifty day moving average of $75.26 and a 200-day moving average of $79.64.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1 billion.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. 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.