Shay Capital LLC Buys Shares of 12,958 Mueller Industries, Inc. (NYSE:MLI)

Shay Capital LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,958 shares of the industrial products company’s stock, valued at approximately $1,028,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Mueller Industries by 0.5% during the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after acquiring an additional 170 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock worth $274,000 after acquiring an additional 174 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Mueller Industries by 5.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 187 shares in the last quarter. Caprock Group LLC boosted its stake in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 194 shares in the last quarter. Finally, Texas Yale Capital Corp. increased its stake in shares of Mueller Industries by 6.0% during the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 200 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Activity

In related news, Director John B. Hansen sold 3,130 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the sale, the director now owns 93,914 shares in the company, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director now directly owns 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock worth $2,198,600 over the last 90 days. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

MLI stock opened at $79.01 on Friday. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 14.88 and a beta of 1.03. The firm has a 50 day moving average price of $75.33 and a 200-day moving average price of $79.73. Mueller Industries, Inc. has a 52-week low of $53.53 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.27%. Mueller Industries’s dividend payout ratio (DPR) is presently 18.21%.

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.