Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,705,588 shares of the industrial products company's stock after purchasing an additional 117,327 shares during the period. Geode Capital Management LLC owned about 2.38% of Mueller Industries worth $214,763,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new stake in shares of Mueller Industries during the fourth quarter worth $32,000. Westside Investment Management Inc. acquired a new stake in Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries in the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries in the fourth quarter worth about $53,000. Finally, City State Bank acquired a new position in Mueller Industries in the fourth quarter valued at approximately $58,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $1.63 on Friday, reaching $74.24. 704,260 shares of the company were exchanged, compared to its average volume of 914,304. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 13.98 and a beta of 0.96. The company's 50-day moving average is $78.36 and its two-hundred day moving average is $79.88. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81.

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

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

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.