Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 101.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,458 shares of the industrial products company’s stock after purchasing an additional 18,337 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mueller Industries were worth $1,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 299 shares during the period. Beaird Harris Wealth Management LLC acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $30,000. Montag A & Associates Inc. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 487 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Trading Up 0.4 %

MLI stock opened at $55.66 on Friday. The company has a market capitalization of $6.32 billion, a P/E ratio of 11.15 and a beta of 1.07. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $60.31. The business has a 50 day simple moving average of $56.63 and a 200-day simple moving average of $51.60.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share for the quarter. The business had revenue of $849.65 million during the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, June 7th. Mueller Industries’s payout ratio is currently 16.03%.

Insider Activity

In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the sale, the chief financial officer now owns 313,529 shares in the company, valued at $17,949,535.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $57.73, for a total transaction of $115,460.00. Following the completion of the sale, the director now owns 24,733 shares in the company, valued at $1,427,836.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $57.25, for a total value of $3,001,961.00. Following the sale, the chief financial officer now owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,169 shares of company stock valued at $3,506,762. 2.80% of the stock is currently owned by company insiders.

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.