Gamco Investors INC. ET AL Increases Position in Mueller Industries, Inc. (NYSE:MLI)

Gamco Investors INC. ET AL increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLIFree Report) by 93.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,849,329 shares of the industrial products company’s stock after buying an additional 1,855,637 shares during the quarter. Mueller Industries makes up approximately 1.9% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 2nd largest position. Gamco Investors INC. ET AL’s holdings in Mueller Industries were worth $181,496,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP grew its position in shares of Mueller Industries by 94.5% during the 4th quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock valued at $264,920,000 after acquiring an additional 2,729,382 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Mueller Industries by 90.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock valued at $237,633,000 after purchasing an additional 2,399,862 shares during the period. Dimensional Fund Advisors LP increased its position in Mueller Industries by 97.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,172,082 shares of the industrial products company’s stock worth $196,718,000 after buying an additional 2,055,506 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Mueller Industries by 194.4% in the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock valued at $135,938,000 after buying an additional 1,903,745 shares during the period. Finally, Norges Bank purchased a new position in shares of Mueller Industries during the 4th quarter valued at $59,606,000. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In other news, Director John B. Hansen sold 4,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Elizabeth M. Donovan sold 2,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the sale, the director now directly owns 24,733 shares in the company, valued at approximately $1,427,836.09. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hansen sold 4,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,169 shares of company stock worth $3,506,762. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Up 1.4 %

MLI traded up $0.79 during trading hours on Thursday, hitting $56.60. The stock had a trading volume of 318,931 shares, compared to its average volume of 644,377. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $60.31. The company’s fifty day simple moving average is $56.22 and its 200 day simple moving average is $50.96. The stock has a market cap of $6.43 billion, a PE ratio of 11.26 and a beta of 1.07.

Mueller Industries (NYSE:MLIGet Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share for the quarter. The firm had revenue of $849.65 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. Mueller Industries’s dividend payout ratio is currently 16.03%.

About Mueller Industries

(Free Report)

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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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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