Perpetual Ltd Purchases 15,547 Shares of Mueller Industries, Inc. (NYSE:MLI)

Perpetual Ltd boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,952 shares of the industrial products company’s stock after purchasing an additional 15,547 shares during the period. Perpetual Ltd owned about 0.15% of Mueller Industries worth $9,435,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in Mueller Industries by 26.2% in the 3rd quarter. HighTower Advisors LLC now owns 10,922 shares of the industrial products company’s stock worth $826,000 after acquiring an additional 2,268 shares in the last quarter. Deutsche Bank AG grew its stake in Mueller Industries by 17.9% in the 3rd quarter. Deutsche Bank AG now owns 29,129 shares of the industrial products company’s stock worth $2,189,000 after acquiring an additional 4,426 shares in the last quarter. Rhumbline Advisers grew its stake in Mueller Industries by 8.1% in the 3rd quarter. Rhumbline Advisers now owns 204,108 shares of the industrial products company’s stock worth $15,341,000 after acquiring an additional 15,322 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Mueller Industries by 43.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 95,701 shares of the industrial products company’s stock worth $7,193,000 after acquiring an additional 28,766 shares in the last quarter. Finally, Brandywine Global Investment Management LLC grew its stake in Mueller Industries by 13.8% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 172,605 shares of the industrial products company’s stock worth $12,973,000 after acquiring an additional 20,942 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

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 shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the sale, the director now owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the sale, the director now directly owns 103,914 shares in the company, valued at $6,090,399.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Elizabeth M. Donovan sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were 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 of the company’s stock, valued at $1,427,836.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,169 shares of company stock valued at $3,506,762. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI stock opened at $55.44 on Friday. The company has a market capitalization of $6.30 billion, a P/E ratio of 11.11 and a beta of 1.07. The company’s 50-day simple moving average is $56.55 and its two-hundred day simple moving average is $51.51. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $60.31.

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

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Mueller Industries’s payout ratio is presently 16.03%.

Mueller Industries 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.