SG Americas Securities LLC Buys 20,220 Shares of Mueller Industries, Inc. (MLI)

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SG Americas Securities LLC increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 168.9% during the 1st quarter, Holdings Channel reports. The fund owned 32,194 shares of the industrial products company’s stock after purchasing an additional 20,220 shares during the quarter. SG Americas Securities LLC’s holdings in Mueller Industries were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Investors Research Corp grew its position in Mueller Industries by 1.3% during the 4th quarter. Investors Research Corp now owns 30,600 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 400 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in Mueller Industries by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 13,706 shares of the industrial products company’s stock worth $320,000 after acquiring an additional 451 shares during the last quarter. Uncommon Cents Investing LLC grew its position in Mueller Industries by 1.6% during the 1st quarter. Uncommon Cents Investing LLC now owns 39,860 shares of the industrial products company’s stock worth $1,249,000 after acquiring an additional 610 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Mueller Industries by 8.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,935 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 627 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Mueller Industries by 1.2% during the 3rd quarter. Teachers Advisors LLC now owns 114,128 shares of the industrial products company’s stock worth $3,307,000 after acquiring an additional 1,358 shares during the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Mueller Industries from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, February 7th. ValuEngine upgraded Mueller Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, TheStreet upgraded Mueller Industries from a “c+” rating to a “b” rating in a research report on Wednesday, February 6th.

In other news, Chairman Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $32.69, for a total value of $1,634,500.00. Following the sale, the chairman now directly owns 406,069 shares in the company, valued at approximately $13,274,395.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Jay Goldman sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $32.75, for a total value of $32,750.00. Following the completion of the sale, the director now owns 10,700 shares in the company, valued at $350,425. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by company insiders.

MLI opened at $28.21 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 3.56. Mueller Industries, Inc. has a 1 year low of $21.49 and a 1 year high of $34.24. The company has a market cap of $1.58 billion, a P/E ratio of 15.17 and a beta of 1.37.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.29). The business had revenue of $661.80 million during the quarter. Mueller Industries had a return on equity of 19.32% and a net margin of 3.87%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts forecast that Mueller Industries, Inc. will post 1.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. Mueller Industries’s dividend payout ratio is currently 21.51%.

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About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, and line sets for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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