ExodusPoint Capital Management LP Grows Stock Position in Mueller Industries, Inc. (NYSE:MLI)

ExodusPoint Capital Management LP lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,497 shares of the industrial products company's stock after purchasing an additional 16,738 shares during the quarter. ExodusPoint Capital Management LP's holdings in Mueller Industries were worth $3,134,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Trexquant Investment LP bought a new stake in Mueller Industries during the 4th quarter valued at $628,000. Headlands Technologies LLC bought a new stake in shares of Mueller Industries during the fourth quarter worth about $604,000. Geode Capital Management LLC lifted its position in Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after acquiring an additional 117,327 shares in the last quarter. Franklin Resources Inc. lifted its position in Mueller Industries by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 77,389 shares of the industrial products company's stock valued at $6,142,000 after acquiring an additional 8,287 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Mueller Industries by 47.7% during the 4th quarter. Alliancebernstein L.P. now owns 296,168 shares of the industrial products company's stock valued at $23,504,000 after purchasing an additional 95,664 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Remove Ads

Mueller Industries Price Performance

Shares of MLI stock traded up $1.63 during trading hours on Friday, reaching $74.24. The company had a trading volume of 704,260 shares, compared to its average volume of 914,304. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 13.98 and a beta of 0.96. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81. The business has a fifty day simple moving average of $78.36 and a 200-day simple moving average of $79.88.

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

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

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.