Advisors Asset Management Inc. Increases Stake in Mueller Industries, Inc. (NYSE:MLI)

Advisors Asset Management Inc. grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 17.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,176 shares of the industrial products company’s stock after buying an additional 7,415 shares during the quarter. Advisors Asset Management Inc.’s holdings in Mueller Industries were worth $2,652,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares in the last quarter. Montag A & Associates Inc. purchased a new position in shares of Mueller Industries in the 4th quarter valued at about $34,000. LifeSteps Financial Inc. purchased a new position in shares of Mueller Industries in the 1st quarter valued at about $43,000. Finally, CWM LLC grew its stake in Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $58.61, for a total transaction of $160,181.13. Following the sale, the director now directly owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John B. Hansen sold 2,733 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $58.61, for a total transaction of $160,181.13. Following the transaction, the director now directly owns 103,914 shares in the company, valued at approximately $6,090,399.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total transaction of $115,460.00. Following the transaction, the director now owns 24,733 shares in the company, valued at $1,427,836.09. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

NYSE MLI traded up $1.93 during trading hours on Friday, reaching $70.13. The company’s stock had a trading volume of 831,463 shares, compared to its average volume of 744,044. The stock has a market cap of $7.97 billion, a PE ratio of 14.05 and a beta of 1.06. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $70.58. The company’s 50-day moving average is $58.47 and its two-hundred day moving average is $54.18.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.75 million for the quarter.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. Mueller Industries’s dividend payout ratio is currently 16.03%.

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.