ProShare Advisors LLC Boosts Stock Position in Mueller Industries, Inc. (NYSE:MLI)

ProShare Advisors LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 57.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,793 shares of the industrial products company’s stock after acquiring an additional 13,446 shares during the quarter. ProShare Advisors LLC’s holdings in Mueller Industries were worth $2,920,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLI. Quantinno Capital Management LP grew its stake in shares of Mueller Industries by 44.5% in the fourth quarter. Quantinno Capital Management LP now owns 7,444 shares of the industrial products company’s stock worth $591,000 after acquiring an additional 2,291 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Mueller Industries by 23.6% in the fourth quarter. Nuveen Asset Management LLC now owns 465,438 shares of the industrial products company’s stock valued at $36,937,000 after purchasing an additional 88,799 shares during the period. NDVR Inc. grew its stake in Mueller Industries by 5.1% during the 4th quarter. NDVR Inc. now owns 5,454 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mueller Industries by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company’s stock worth $67,087,000 after purchasing an additional 45,672 shares during the period. Finally, Lazard Asset Management LLC raised its position in Mueller Industries by 40.8% in the 4th quarter. Lazard Asset Management LLC now owns 55,096 shares of the industrial products company’s stock valued at $4,371,000 after purchasing an additional 15,977 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director now owns 93,914 shares of the company’s stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director now owns 39,615 shares of the company’s stock, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $77.81 on Wednesday. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The company has a market cap of $8.61 billion, a PE ratio of 14.65 and a beta of 1.03. The business has a 50-day simple moving average of $75.26 and a 200-day simple moving average of $79.64.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. Mueller Industries’s payout ratio is currently 18.21%.

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.