Russell Investments Group Ltd. Purchases 59,098 Shares of Mueller Industries, Inc. (NYSE:MLI)

Russell Investments Group Ltd. increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 96.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,529 shares of the industrial products company's stock after purchasing an additional 59,098 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Mueller Industries worth $9,565,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the 4th quarter worth $32,000. Westside Investment Management Inc. purchased a new stake in Mueller Industries during the third quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries during the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $53,000. Finally, City State Bank bought a new position in Mueller Industries in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

MLI stock traded down $2.50 during midday trading on Wednesday, reaching $71.03. 1,201,108 shares of the company's stock traded hands, compared to its average volume of 919,423. The firm has a market capitalization of $7.87 billion, a PE ratio of 13.38 and a beta of 0.96. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The company has a 50-day moving average price of $78.11 and a two-hundred day moving average price of $79.91.

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Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.41%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company's 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 transaction, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.