OneDigital Investment Advisors LLC Acquires Shares of 3,569 Mueller Industries, Inc. (NYSE:MLI)

OneDigital Investment Advisors LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,569 shares of the industrial products company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William Blair Investment Management LLC purchased a new stake in Mueller Industries in the 4th quarter worth approximately $201,376,000. Norges Bank purchased a new stake in Mueller Industries during the fourth quarter worth $117,351,000. Invesco Ltd. grew its position in Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock valued at $221,304,000 after buying an additional 933,498 shares during the period. FMR LLC increased its holdings in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after buying an additional 845,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Mueller Industries by 169.1% in the fourth 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 acquiring an additional 665,413 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Up 0.7%

NYSE:MLI opened at $86.25 on Friday. Mueller Industries, Inc. has a 52 week low of $60.35 and a 52 week high of $96.81. The stock’s 50-day moving average price is $78.08 and its 200-day moving average price is $78.00. The stock has a market capitalization of $9.54 billion, a PE ratio of 15.71 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 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 analyst estimates of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, June 6th. Mueller Industries’s payout ratio is presently 18.21%.

Insiders Place Their Bets

In other news, Director Terry Hermanson sold 10,000 shares of Mueller Industries 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 owned 100,082 shares in the company, valued at $7,440,095.88. This trade 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 available through this link. Also, Director John B. Hansen sold 3,130 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director directly owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% 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 worth $2,198,600. Company 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.