Flagship Harbor Advisors LLC Boosts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Flagship Harbor Advisors LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,118 shares of the industrial products company’s stock after purchasing an additional 338 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Mueller Industries were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were 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. This represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of the firm’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 transaction, the director now directly owns 39,615 shares of the company’s stock, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is owned by insiders.

Mueller Industries Stock Down 0.4%

Shares of MLI opened at $77.20 on Thursday. Mueller Industries, Inc. has a 52-week low of $55.20 and a 52-week high of $96.81. The company has a 50-day simple moving average of $75.57 and a 200-day simple moving average of $77.87. The company has a market capitalization of $8.54 billion, a PE ratio of 14.06 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.30%. Mueller Industries’s dividend payout ratio 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.