Point72 Asia Singapore Pte. Ltd. Buys Shares of 2,649 Mueller Industries, Inc. (NYSE:MLI)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, Holdings Channel reports. The firm bought 2,649 shares of the industrial products company’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of MLI. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries in the 4th quarter valued at $201,376,000. Norges Bank acquired a new stake in shares of Mueller Industries in the 4th quarter valued at $117,351,000. Invesco Ltd. lifted its stake in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock valued at $221,304,000 after purchasing an additional 933,498 shares during the last quarter. FMR LLC lifted its stake in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Mueller Industries by 169.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company’s stock valued at $84,029,000 after purchasing an additional 665,413 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director now owns 100,082 shares in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock worth $2,198,600 in the last quarter. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Trading Up 0.4%

MLI stock opened at $79.35 on Friday. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The company has a fifty day simple moving average of $75.27 and a 200 day simple moving average of $79.71. The firm has a market cap of $8.78 billion, a PE ratio of 14.94 and a beta of 1.03.

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

Mueller Industries Announces Dividend

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 issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is presently 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.