Westfield Capital Management Co. LP Acquires 9,719 Shares of Mueller Industries, Inc. (NYSE:MLI)

Westfield Capital Management Co. LP raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,849 shares of the industrial products company’s stock after purchasing an additional 9,719 shares during the period. Westfield Capital Management Co. LP owned approximately 0.15% of Mueller Industries worth $9,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. TD Asset Management Inc raised its stake in Mueller Industries by 91.2% in the fourth quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock valued at $4,210,000 after purchasing an additional 42,600 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Mueller Industries by 100.1% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 194,186 shares of the industrial products company’s stock worth $9,156,000 after acquiring an additional 97,140 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Mueller Industries by 117.8% during the 4th quarter. BNP Paribas Financial Markets now owns 116,167 shares of the industrial products company’s stock worth $5,477,000 after acquiring an additional 62,834 shares in the last quarter. Congress Asset Management Co. MA increased its stake in Mueller Industries by 100.5% in the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock valued at $9,472,000 after acquiring an additional 100,696 shares during the last quarter. Finally, F&V Capital Management LLC raised its position in Mueller Industries by 100.0% during the fourth quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock valued at $7,775,000 after purchasing an additional 82,445 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the sale, the director now owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Elizabeth M. Donovan sold 2,000 shares of the business’s 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 sale, the director now directly owns 24,733 shares in the company, valued at $1,427,836.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the transaction, the chief financial officer now owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,169 shares of company stock valued at $3,506,762. 2.80% of the stock is owned by insiders.

Mueller Industries Trading Down 0.9 %

NYSE MLI traded down $0.59 on Friday, hitting $62.83. 685,846 shares of the company’s stock were exchanged, compared to its average volume of 807,516. The stock has a 50-day moving average of $57.62 and a 200-day moving average of $53.49. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 12.59 and a beta of 1.06. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $65.44.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share for the quarter. The business had revenue of $849.65 million during the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Mueller Industries’s 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.