Invesco Ltd. grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 50.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,788,607 shares of the industrial products company's stock after acquiring an additional 933,498 shares during the period. Invesco Ltd. owned about 2.45% of Mueller Industries worth $221,304,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Flagship Harbor Advisors LLC bought a new stake in Mueller Industries in the fourth quarter valued at about $300,000. Merit Financial Group LLC acquired a new position in shares of Mueller Industries in the 4th quarter worth approximately $287,000. Rhumbline Advisers increased its holdings in shares of Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after acquiring an additional 43,893 shares during the last quarter. US Bancorp DE raised its position in shares of Mueller Industries by 3.0% during the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock valued at $1,451,000 after acquiring an additional 537 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock worth $16,081,000 after purchasing an additional 12,450 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.
Mueller Industries Stock Down 0.1 %
MLI stock traded down $0.10 during trading on Tuesday, hitting $73.64. 710,433 shares of the company's stock traded hands, compared to its average volume of 915,072. The stock has a fifty day moving average price of $78.27 and a two-hundred day moving average price of $79.95. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 13.87 and a beta of 0.96.
Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's dividend payout ratio is presently 18.83%.
Insiders Place Their Bets
In other news, Director Scott Jay Goldman sold 10,000 shares of the company's 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by corporate insiders.
About Mueller Industries
(
Free Report)
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.
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