Alliancebernstein L.P. Has $23.50 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Alliancebernstein L.P. lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 47.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 296,168 shares of the industrial products company's stock after acquiring an additional 95,664 shares during the quarter. Alliancebernstein L.P. owned about 0.26% of Mueller Industries worth $23,504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MLI. Captrust Financial Advisors bought a new stake in Mueller Industries during the third quarter worth approximately $215,000. Benjamin Edwards Inc. bought a new stake in shares of Mueller Industries during the 3rd quarter worth $278,000. Janus Henderson Group PLC grew its stake in Mueller Industries by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 145,103 shares of the industrial products company's stock valued at $10,753,000 after buying an additional 15,413 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Mueller Industries by 18.4% in the 3rd quarter. Quantinno Capital Management LP now owns 5,153 shares of the industrial products company's stock worth $382,000 after acquiring an additional 801 shares during the period. Finally, Stifel Financial Corp lifted its position in Mueller Industries by 87.8% during the 3rd quarter. Stifel Financial Corp now owns 185,590 shares of the industrial products company's stock worth $13,752,000 after acquiring an additional 86,748 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Up 2.2 %

MLI stock traded up $1.63 during mid-day trading on Friday, reaching $74.24. 704,260 shares of the stock traded hands, compared to its average volume of 914,304. The business has a 50-day moving average of $78.36 and a two-hundred day moving average of $79.88. The firm has a market capitalization of $8.22 billion, a PE ratio of 13.98 and a beta of 0.96. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81.

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Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's payout ratio is 18.83%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company's stock.

Mueller Industries 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.