Dimensional Fund Advisors LP Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Dimensional Fund Advisors LP boosted its position in Mueller Industries, Inc. (NYSE:MLI – Get Rating) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,087,769 shares of the industrial products company’s stock after purchasing an additional 17,875 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Mueller Industries were worth $123,178,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Mueller Industries by 0.7% in the 1st quarter. BlackRock Inc. now owns 8,779,865 shares of the industrial products company’s stock worth $475,606,000 after purchasing an additional 64,501 shares in the last quarter. Vanguard Group Inc. grew its holdings in Mueller Industries by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 6,341,321 shares of the industrial products company’s stock worth $343,510,000 after acquiring an additional 116,393 shares during the last quarter. State Street Corp grew its holdings in Mueller Industries by 0.9% in the 3rd quarter. State Street Corp now owns 1,928,353 shares of the industrial products company’s stock worth $114,621,000 after acquiring an additional 17,903 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Mueller Industries by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 750,118 shares of the industrial products company’s stock worth $44,586,000 after acquiring an additional 22,182 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Mueller Industries in the 1st quarter worth $29,681,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $73.01, for a total transaction of $219,030.00. Following the completion of the sale, the director now directly owns 21,037 shares in the company, valued at approximately $1,535,911.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Scott Jay Goldman sold 3,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $73.01, for a total value of $219,030.00. Following the completion of the sale, the director now directly owns 21,037 shares in the company, valued at $1,535,911.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 500 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $70.47, for a total transaction of $35,235.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $845,640. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,007 shares of company stock worth $441,050. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Mueller Industries from a “hold” rating to a “buy” rating in a report on Friday.

Mueller Industries Trading Up 0.2 %

NYSE:MLI opened at $78.79 on Friday. Mueller Industries, Inc. has a 12 month low of $50.05 and a 12 month high of $79.99. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 6.61 and a beta of 1.09. The company has a 50-day moving average price of $71.90 and a 200-day moving average price of $68.71.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. Mueller Industries’s dividend payout ratio is currently 10.07%.

Mueller Industries Profile

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Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of Domestic Piping Systems Group, Great Lakes Copper, Heatlink Group, European Operations, Trading Group, Jungwoo-Mueller, and Mueller Middle East.