Massar Capital Management LP Makes New $2.04 Million Investment in Mueller Industries, Inc. (NYSE:MLI)

Massar Capital Management LP bought a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,754 shares of the industrial products company's stock, valued at approximately $2,044,000. Mueller Industries comprises approximately 2.3% of Massar Capital Management LP's investment portfolio, making the stock its 13th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Mueller Industries in the fourth quarter worth approximately $300,000. Merit Financial Group LLC purchased a new position in shares of Mueller Industries during the 4th quarter worth $287,000. Rhumbline Advisers grew its position in shares of Mueller Industries by 13.7% during the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after acquiring an additional 43,893 shares during the period. US Bancorp DE increased its stake in shares of Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after purchasing an additional 537 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in Mueller Industries by 6.5% in the 4th quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock worth $16,081,000 after purchasing an additional 12,450 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Down 1.2 %

NYSE:MLI traded down $0.92 during mid-day trading on Friday, hitting $73.06. 604,158 shares of the company traded hands, compared to its average volume of 926,424. The stock's fifty day moving average price is $76.60 and its 200-day moving average price is $79.80. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 13.76 and a beta of 0.96. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81.

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, beating analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is presently 18.83%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company's stock.

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.