Fielder Capital Group LLC Purchases 2,733 Shares of Mueller Industries, Inc. (NYSE:MLI)

Fielder Capital Group LLC increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,876 shares of the industrial products company’s stock after purchasing an additional 2,733 shares during the period. Mueller Industries accounts for 1.3% of Fielder Capital Group LLC’s portfolio, making the stock its 23rd largest holding. Fielder Capital Group LLC’s holdings in Mueller Industries were worth $3,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 buying an additional 59,060 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Mueller Industries by 94.5% in the 4th quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock worth $264,920,000 after buying an additional 2,729,382 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mueller Industries by 97.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,172,082 shares of the industrial products company’s stock worth $196,718,000 after buying an additional 2,055,506 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Mueller Industries by 93.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after buying an additional 1,855,637 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of Mueller Industries by 94.2% in the 4th quarter. Gabelli Funds LLC now owns 2,461,800 shares of the industrial products company’s stock worth $116,074,000 after buying an additional 1,193,900 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the company’s 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 transaction, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Gregory L. Christopher sold 50,000 shares of the company’s 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 owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 1.9 %

Shares of MLI stock traded up $1.35 during trading hours on Friday, reaching $72.71. 602,163 shares of the stock were exchanged, compared to its average volume of 668,147. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $72.82. The company’s 50-day moving average price is $64.56 and its 200-day moving average price is $57.94. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 14.57 and a beta of 1.06.

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

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. Mueller Industries’s dividend payout ratio is currently 16.03%.

About Mueller Industries

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.