MetLife Investment Management LLC Increases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

MetLife Investment Management LLC lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 103.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,838 shares of the industrial products company's stock after buying an additional 65,490 shares during the quarter. MetLife Investment Management LLC owned approximately 0.11% of Mueller Industries worth $10,225,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MLI. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Mueller Industries by 158.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 77,762 shares of the industrial products company's stock valued at $6,171,000 after acquiring an additional 47,706 shares during the last quarter. First Trust Advisors LP increased its stake in Mueller Industries by 5.6% in the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after purchasing an additional 327,479 shares during the last quarter. NewEdge Advisors LLC lifted its position in Mueller Industries by 10.0% during the fourth quarter. NewEdge Advisors LLC now owns 13,302 shares of the industrial products company's stock worth $1,056,000 after buying an additional 1,212 shares during the period. XTX Topco Ltd boosted its stake in Mueller Industries by 7.8% in the 4th quarter. XTX Topco Ltd now owns 12,720 shares of the industrial products company's stock worth $1,009,000 after buying an additional 919 shares during the last quarter. Finally, Barclays PLC grew its holdings in Mueller Industries by 32.4% in the 4th quarter. Barclays PLC now owns 261,004 shares of the industrial products company's stock valued at $20,713,000 after buying an additional 63,798 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Down 1.2 %

Shares of MLI stock traded down $0.92 during trading hours on Friday, hitting $73.06. 604,158 shares of the company were exchanged, compared to its average volume of 926,424. The firm has a fifty day moving average of $76.60 and a 200 day moving average of $79.80. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The firm has a market cap of $8.09 billion, a PE ratio of 13.76 and a beta of 0.96.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's payout ratio is 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.