ProShare Advisors LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI – Get Rating) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,858 shares of the industrial products company’s stock after purchasing an additional 1,145 shares during the period. ProShare Advisors LLC’s holdings in Mueller Industries were worth $523,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC acquired a new stake in Mueller Industries in the third quarter valued at approximately $35,000. Wipfli Financial Advisors LLC acquired a new stake in Mueller Industries in the third quarter valued at approximately $38,000. Point72 Hong Kong Ltd acquired a new stake in Mueller Industries in the second quarter valued at approximately $40,000. Federated Hermes Inc. grew its holdings in Mueller Industries by 54.9% in the third quarter. Federated Hermes Inc. now owns 841 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 298 shares during the period. Finally, Ronald Blue Trust Inc. grew its holdings in Mueller Industries by 477.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,507 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 1,246 shares during the period. 89.64% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Gregory L. Christopher sold 55,381 shares of Mueller Industries stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $74.16, for a total transaction of $4,107,054.96. Following the transaction, the chief executive officer now owns 625,784 shares in the company, valued at $46,408,141.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 507 shares of Mueller Industries stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $75.00, for a total value of $38,025.00. Following the sale, the chief executive officer now owns 603,671 shares in the company, valued at $45,275,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 55,381 shares of Mueller Industries stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $74.16, for a total value of $4,107,054.96. Following the completion of the sale, the chief executive officer now owns 625,784 shares in the company, valued at approximately $46,408,141.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,166 shares of company stock worth $4,310,874. 2.90% of the stock is owned by corporate insiders.
Mueller Industries Price Performance
Mueller Industries (NYSE:MLI – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter. The firm had revenue of $877.58 million for the quarter. Mueller Industries had a return on equity of 38.46% and a net margin of 17.07%.
Mueller Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were given a dividend of $0.30 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. Mueller Industries’s dividend payout ratio (DPR) is presently 10.07%.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on Mueller Industries in a research note on Thursday, March 16th. They issued a “buy” rating on the stock.
About Mueller Industries
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of Domestic Piping Systems Group, Great Lakes Copper, Heatlink Group, European Operations, Trading Group, Jungwoo-Mueller, and Mueller Middle East.
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