Trexquant Investment LP Invests $628,000 in Mueller Industries, Inc. (NYSE:MLI)

Trexquant Investment LP bought a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,907 shares of the industrial products company's stock, valued at approximately $628,000.

Several other institutional investors have also modified their holdings of MLI. Geode Capital Management LLC raised its holdings in shares of Mueller Industries by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after buying an additional 117,327 shares during the last quarter. William Blair Investment Management LLC bought a new position in Mueller Industries in the 4th quarter valued at about $201,376,000. Norges Bank acquired a new position in Mueller Industries during the 4th quarter valued at about $117,351,000. Arrowstreet Capital Limited Partnership raised its position in shares of Mueller Industries by 59.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 844,287 shares of the industrial products company's stock worth $67,003,000 after buying an additional 316,095 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Mueller Industries by 135.7% during the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock worth $40,341,000 after buying an additional 292,697 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.80% of the stock is owned by company insiders.

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Mueller Industries Price Performance

Shares of Mueller Industries stock traded down $0.10 on Tuesday, hitting $73.64. The company had a trading volume of 710,433 shares, compared to its average volume of 915,072. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The company has a market cap of $8.16 billion, a PE ratio of 13.87 and a beta of 0.96. The business has a 50-day simple moving average of $78.27 and a 200-day simple moving average of $79.95.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. 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 given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.36%. Mueller Industries's payout ratio is 18.83%.

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.