Caprock Group LLC Buys Shares of 8,305 Mueller Industries, Inc. (NYSE:MLI)

Caprock Group LLC purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, HoldingsChannel reports. The firm purchased 8,305 shares of the industrial products company’s stock, valued at approximately $473,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Mueller Industries by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after buying an additional 59,060 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Mueller Industries by 91.2% in the 4th quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock valued at $4,210,000 after acquiring an additional 42,600 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Mueller Industries by 117.8% in the 4th quarter. BNP Paribas Financial Markets now owns 116,167 shares of the industrial products company’s stock worth $5,477,000 after purchasing an additional 62,834 shares during the last quarter. Congress Asset Management Co. MA boosted its position in 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 worth $9,472,000 after purchasing an additional 100,696 shares during the period. Finally, Perpetual Ltd grew its holdings in Mueller Industries by 9.8% during the first quarter. Perpetual Ltd now owns 174,952 shares of the industrial products company’s stock valued at $9,435,000 after purchasing an additional 15,547 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock worth $7,081,770 over the last three months. 2.80% of the stock is currently owned by insiders.

Mueller Industries Trading Up 0.0 %

Shares of Mueller Industries stock opened at $67.14 on Thursday. The firm has a fifty day simple moving average of $66.37 and a 200-day simple moving average of $59.00. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 13.45 and a beta of 1.03. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $72.83.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The firm had revenue of $997.75 million during the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, September 6th. Mueller Industries’s dividend payout ratio is currently 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.