Sawgrass Asset Management LLC Purchases 4,830 Shares of Mueller Industries, Inc. (NYSE:MLI)

Sawgrass Asset Management LLC boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 96.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,846 shares of the industrial products company’s stock after buying an additional 4,830 shares during the period. Sawgrass Asset Management LLC’s holdings in Mueller Industries were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC increased its position in shares of Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares during the period. Beaird Harris Wealth Management LLC bought a new stake in shares of Mueller Industries during the third quarter valued at about $30,000. Adirondack Trust Co. purchased a new stake in shares of Mueller Industries in the third quarter worth about $45,000. Finally, Versant Capital Management Inc boosted its position in shares of Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 487 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $57.25, for a total value of $3,001,961.00. Following the completion of the sale, the chief financial officer now owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The disclosure for this sale can be found here. Insiders have sold 108,716 shares of company stock valued at $5,806,311 over the last ninety days. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Up 1.2 %

Shares of NYSE MLI traded up $0.67 during trading hours on Tuesday, reaching $58.67. 538,816 shares of the stock traded hands, compared to its average volume of 678,054. The company has a market capitalization of $6.66 billion, a P/E ratio of 11.75 and a beta of 1.08. The company’s 50-day simple moving average is $53.40 and its two-hundred day simple moving average is $47.76. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $59.59.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%. The firm had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is currently 16.03%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

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.