Massachusetts Financial Services Co. MA Acquires 90,841 Shares of Mueller Industries, Inc. (NYSE:MLI)

Massachusetts Financial Services Co. MA increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 1,124.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,920 shares of the industrial products company’s stock after acquiring an additional 90,841 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.09% of Mueller Industries worth $5,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Mueller Industries by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after purchasing an additional 59,060 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Mueller Industries by 91.2% in the fourth quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock worth $4,210,000 after acquiring an additional 42,600 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Mueller Industries by 100.5% during the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock valued at $9,472,000 after acquiring an additional 100,696 shares in the last quarter. Perpetual Ltd raised its position in shares of Mueller Industries by 9.8% in the 1st quarter. Perpetual Ltd now owns 174,952 shares of the industrial products company’s stock worth $9,435,000 after purchasing an additional 15,547 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Mueller Industries by 95.7% in the 4th quarter. Franklin Resources Inc. now owns 48,304 shares of the industrial products company’s stock worth $2,278,000 after purchasing an additional 23,618 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,000 shares of company stock worth $7,081,770. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $72.56 on Friday. The firm has a 50-day simple moving average of $68.27 and a two-hundred day simple moving average of $59.97. The firm has a market cap of $8.24 billion, a P/E ratio of 14.54 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $74.47.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.12. The business had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

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.