Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Invesco Ltd.

Invesco Ltd. raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 50.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,788,607 shares of the industrial products company’s stock after buying an additional 933,498 shares during the quarter. Invesco Ltd.’s holdings in Mueller Industries were worth $221,304,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries in the 4th quarter worth about $32,000. Westside Investment Management Inc. acquired a new stake in Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries during the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries in the fourth quarter worth about $53,000. Finally, City State Bank acquired a new position in Mueller Industries in the fourth quarter valued at approximately $58,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 2.2 %

Shares of Mueller Industries stock opened at $74.24 on Friday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 13.98 and a beta of 0.96. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The business’s 50 day simple moving average is $78.36 and its 200-day simple moving average is $79.88.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.35%. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% 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.