Abacus FCF Advisors LLC Has $3.77 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Abacus FCF Advisors LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 46.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,453 shares of the industrial products company's stock after purchasing an additional 15,004 shares during the period. Abacus FCF Advisors LLC's holdings in Mueller Industries were worth $3,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its position in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after buying an additional 139,406 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Mueller Industries by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock worth $214,763,000 after purchasing an additional 117,327 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $201,376,000. Finally, FMR LLC raised its stake in shares of Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction 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 sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company's stock.

Mueller Industries Stock Up 2.2 %

MLI traded up $1.63 during trading on Friday, reaching $74.24. 704,260 shares of the company's stock were exchanged, compared to its average volume of 916,412. The company has a market capitalization of $8.22 billion, a P/E ratio of 13.98 and a beta of 0.96. The business has a 50 day moving average price of $78.36 and a 200 day moving average price of $79.94. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's payout ratio is presently 18.83%.

Mueller Industries Company Profile

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.