Bridgewater Advisors Inc. Acquires 28,089 Shares of Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Advisors Inc. increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 96.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,169 shares of the industrial products company’s stock after acquiring an additional 28,089 shares during the period. Bridgewater Advisors Inc.’s holdings in Mueller Industries were worth $2,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLI. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 acquiring an additional 2,399,862 shares during the period. Pacer Advisors Inc. boosted its position in 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 in the last quarter. Gates Capital Management Inc. grew its stake in Mueller Industries by 53.4% during the third quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock worth $89,947,000 after buying an additional 416,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Mueller Industries by 98.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,872 shares of the industrial products company’s stock worth $30,359,000 after buying an additional 320,187 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Mueller Industries by 140.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 303,303 shares of the industrial products company’s stock valued at $14,140,000 after acquiring an additional 177,133 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MLI shares. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the transaction, the director now directly owns 104,214 shares in the company, valued at approximately $5,970,420.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $57.25, for a total value of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the company’s 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 completion of the sale, the director now owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Insiders sold a total of 108,716 shares of company stock worth $5,806,311 over the last three months. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

Shares of NYSE MLI traded down $2.25 during trading on Tuesday, reaching $55.82. The company had a trading volume of 766,388 shares, compared to its average volume of 686,971. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $59.59. The business’s 50 day moving average price is $52.61 and its 200-day moving average price is $47.29. The stock has a market cap of $6.34 billion, a PE ratio of 11.19 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.20 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.43%. Mueller Industries’s dividend payout ratio (DPR) 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.