Mueller Industries, Inc. (NYSE:MLI) Position Increased by Stifel Financial Corp

Stifel Financial Corp increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,837 shares of the industrial products company's stock after acquiring an additional 30,247 shares during the period. Stifel Financial Corp owned approximately 0.19% of Mueller Industries worth $17,129,000 as of its most recent SEC filing.

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

Mueller Industries Stock Down 0.3 %

Shares of MLI traded down $0.22 during mid-day trading on Monday, reaching $72.79. 758,453 shares of the stock traded hands, compared to its average volume of 926,708. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 13.71 and a beta of 0.96. The stock has a fifty day simple moving average of $76.43 and a 200 day simple moving average of $79.91. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is currently 18.21%.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company's stock.

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.