Renaissance Technologies LLC Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Renaissance Technologies LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 151.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,000 shares of the industrial products company's stock after acquiring an additional 287,100 shares during the quarter. Renaissance Technologies LLC owned 0.42% of Mueller Industries worth $37,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new stake in Mueller Industries in the 4th quarter worth $32,000. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the 4th quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mueller Industries in the 4th quarter valued at $53,000. Finally, City State Bank acquired a new stake in Mueller Industries in the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Price Performance

MLI stock traded down $1.79 during mid-day trading on Wednesday, reaching $71.74. The company had a trading volume of 362,351 shares, compared to its average volume of 915,143. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 13.51 and a beta of 0.96. The stock has a 50 day simple moving average of $78.11 and a two-hundred day simple moving average of $79.91.

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Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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. Stockholders of record on Friday, March 14th were paid a $0.25 dividend. This is a positive change 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 dividend yield of 1.39%. Mueller Industries's dividend payout ratio is presently 18.83%.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.

Mueller Industries 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.