Mueller Industries, Inc. (NYSE:MLI) Stake Increased by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 10,616.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,800 shares of the industrial products company’s stock after purchasing an additional 85,990 shares during the period. GAMMA Investing LLC owned approximately 0.08% of Mueller Industries worth $6,609,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Mueller Industries by 13.7% in the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock valued at $28,895,000 after purchasing an additional 43,893 shares in the last quarter. US Bancorp DE boosted its position in Mueller Industries by 3.0% during the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock valued at $1,451,000 after purchasing an additional 537 shares during the last quarter. Congress Asset Management Co. boosted its position in Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company’s stock valued at $16,081,000 after purchasing an additional 12,450 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Mueller Industries by 135.7% during the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after purchasing an additional 292,697 shares during the last quarter. Finally, Four Tree Island Advisory LLC acquired a new stake in Mueller Industries during the fourth quarter valued at $19,376,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.0%

MLI opened at $77.44 on Tuesday. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 14.58 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The stock has a fifty day moving average price of $74.83 and a 200 day moving average price of $78.24.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data 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 firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given 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 yield of 1.29%. Mueller Industries’s payout ratio is 18.21%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now directly owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director now owns 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock worth $2,198,600 over the last three months. Corporate insiders own 2.70% of the company’s stock.

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.