Centiva Capital LP Buys 22,353 Shares of Mueller Industries, Inc. (NYSE:MLI)

Centiva Capital LP boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 137.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,635 shares of the industrial products company’s stock after acquiring an additional 22,353 shares during the period. Centiva Capital LP’s holdings in Mueller Industries were worth $3,066,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in Mueller Industries in the 4th quarter valued at approximately $32,000. Quarry LP purchased a new position in shares of Mueller Industries in the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the 4th quarter worth about $53,000. Finally, City State Bank purchased a new position in Mueller Industries in the 4th quarter valued at $58,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

Mueller Industries Trading Down 0.4 %

Shares of NYSE MLI opened at $75.21 on Tuesday. The stock has a market cap of $8.32 billion, a P/E ratio of 14.16 and a beta of 0.96. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The business’s fifty day simple moving average is $75.87 and its 200-day simple moving average is $79.94.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is 18.21%.

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.