Colonial River Wealth Management LLC Buys Shares of 10,971 Mueller Industries, Inc. (NYSE:MLI)

Colonial River Wealth Management LLC acquired a new position in Mueller Industries, Inc. (NYSE:MLIFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,971 shares of the industrial products company’s stock, valued at approximately $517,000.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates bought a new stake in shares of Mueller Industries during the first quarter worth $379,000. HighTower Advisors LLC lifted its holdings in Mueller Industries by 18.7% in the first quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 693 shares during the period. Citigroup Inc. lifted its stake in shares of Mueller Industries by 9.4% in the 1st quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock valued at $2,700,000 after purchasing an additional 4,289 shares during the last quarter. Natixis Advisors L.P. raised its position in Mueller Industries by 18.1% in the 1st quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 1,826 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Mueller Industries by 607.0% in the 1st quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 10,259 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares of the company’s stock, valued at $18,263,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $887,940. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock traded down $1.36 during trading hours on Tuesday, hitting $52.18. The company had a trading volume of 625,722 shares, compared to its average volume of 684,472. The firm has a market cap of $5.93 billion, a PE ratio of 9.82 and a beta of 1.08. Mueller Industries, Inc. has a one year low of $32.94 and a one year high of $54.64. The firm has a 50-day moving average of $50.69 and a 200 day moving average of $45.01.

Mueller Industries (NYSE:MLIGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $732.38 million for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.53%. Mueller Industries’s payout ratio is 15.05%.

Wall Street Analysts Forecast Growth

MLI has been the topic of a number of research analyst reports. StockNews.com downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Get Our Latest Analysis on Mueller Industries

Mueller Industries Company Profile

(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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