Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Xponance Inc.

Xponance Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 1.4% in the first quarter, HoldingsChannel.com reports. The firm owned 16,336 shares of the industrial products company’s stock after purchasing an additional 233 shares during the quarter. Xponance Inc.’s holdings in Mueller Industries were worth $1,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares during the period. Benjamin Edwards Inc. lifted its position in Mueller Industries by 5.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 187 shares during the period. Texas Yale Capital Corp. lifted its position in Mueller Industries by 6.0% in the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 200 shares during the period. Monument Capital Management increased its holdings in shares of Mueller Industries by 4.4% in the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company’s stock valued at $373,000 after buying an additional 206 shares in the last quarter. Finally, Nebula Research & Development LLC increased its holdings in shares of Mueller Industries by 1.4% in the fourth quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company’s stock valued at $1,197,000 after buying an additional 213 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

NYSE MLI opened at $84.56 on Wednesday. The stock has a market capitalization of $9.36 billion, a P/E ratio of 15.40 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $61.48 and a 1 year high of $96.81. The business’s fifty day moving average is $78.51 and its two-hundred day moving average is $78.06.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. Mueller Industries’s dividend payout ratio is currently 18.21%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the business’s stock in a transaction 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 directly owned 93,914 shares of the company’s stock, valued at $7,331,865.98. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director directly owned 39,615 shares in the company, 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 90 days, insiders have sold 29,613 shares of company stock valued at $2,198,600. Corporate insiders own 2.70% of the company’s stock.

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.