Cetera Investment Advisers Increases Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Cetera Investment Advisers lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,732 shares of the industrial products company’s stock after buying an additional 2,628 shares during the quarter. Cetera Investment Advisers’ holdings in Mueller Industries were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Centiva Capital LP lifted its stake in shares of Mueller Industries by 137.3% during the 4th quarter. Centiva Capital LP now owns 38,635 shares of the industrial products company’s stock valued at $3,066,000 after buying an additional 22,353 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in Mueller Industries in the 4th quarter worth approximately $1,346,000. Cary Street Partners Financial LLC purchased a new stake in Mueller Industries in the 4th quarter worth approximately $14,651,000. Balyasny Asset Management L.P. lifted its stake in Mueller Industries by 927.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 72,025 shares of the industrial products company’s stock worth $5,716,000 after purchasing an additional 65,015 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Mueller Industries in the 4th quarter worth approximately $532,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

NYSE MLI opened at $76.05 on Friday. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The stock has a market capitalization of $8.41 billion, a PE ratio of 14.32 and a beta of 1.03. The company’s 50 day simple moving average is $75.10 and its two-hundred day simple moving average is $79.57.

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

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries’s dividend payout ratio is presently 18.21%.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 16,483 shares of the firm’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 now owns 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 3,130 shares of the firm’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 now owns 93,914 shares in the company, valued at approximately $7,331,865.98. This trade represents a 3.23% 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 three months. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries 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.