Tower Research Capital LLC TRC Buys 4,962 Shares of Mueller Industries, Inc. (NYSE:MLI)

Tower Research Capital LLC TRC grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 61.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,074 shares of the industrial products company's stock after purchasing an additional 4,962 shares during the period. Tower Research Capital LLC TRC's holdings in Mueller Industries were worth $1,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MLI. Barclays PLC raised its stake in shares of Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock valued at $14,613,000 after purchasing an additional 152,780 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Mueller Industries during the 3rd quarter worth about $278,000. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries during the 3rd quarter valued at about $41,000. World Investment Advisors LLC bought a new stake in Mueller Industries in the third quarter valued at about $2,166,000. Finally, Franklin Resources Inc. raised its position in Mueller Industries by 6.7% in the third quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company's stock worth $5,073,000 after purchasing an additional 4,360 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $73.96 on Friday. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 13.93 and a beta of 0.96. The business's fifty day moving average price is $76.79 and its two-hundred day moving average price is $79.79. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The firm 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 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 boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction on 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 trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

About Mueller Industries

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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