Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 178.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,335 shares of the industrial products company's stock after acquiring an additional 9,189 shares during the period. Townsquare Capital LLC's holdings in Mueller Industries were worth $1,138,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MLI. Invesco Ltd. raised its position in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 117,327 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Mueller Industries in the 4th quarter valued at $201,376,000. FMR LLC lifted its stake in Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after acquiring an additional 845,031 shares in the last quarter. Finally, Norges Bank purchased a new position in Mueller Industries during the 4th quarter valued at about $117,351,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction dated 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 in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $70.79 on Friday. The firm has a market capitalization of $7.84 billion, a PE ratio of 13.33 and a beta of 0.96. Mueller Industries, Inc. has a 1 year low of $51.98 and a 1 year high of $96.81. The firm's 50-day moving average is $77.74 and its two-hundred day moving average is $79.82.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 announced 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 represents a $1.00 annualized dividend and a yield of 1.41%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. Mueller Industries's payout ratio is presently 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.

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