Benjamin Edwards Inc. Grows Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Benjamin Edwards Inc. lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,934 shares of the industrial products company’s stock after buying an additional 187 shares during the quarter. Benjamin Edwards Inc.’s holdings in Mueller Industries were worth $312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLI. New Age Alpha Advisors LLC acquired a new stake in shares of Mueller Industries during the 4th quarter worth approximately $32,000. Quarry LP acquired a new stake in Mueller Industries during the fourth quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the 4th quarter worth about $53,000. Finally, City State Bank acquired a new stake in shares of Mueller Industries during the 4th quarter valued at about $58,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director now directly owns 39,615 shares of the company’s stock, valued at $2,910,117.90. The trade was a 29.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director now owns 100,082 shares of the company’s stock, valued at $7,440,095.88. The trade was a 9.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,483 shares of company stock valued at $2,752,341 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Trading Up 0.1 %

NYSE MLI opened at $74.89 on Friday. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 14.10 and a beta of 1.03. The stock has a 50-day moving average of $75.48 and a 200 day moving average of $79.81. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

Mueller Industries Company Profile

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.