Renaissance Technologies LLC Boosts Stake in Mueller Industries, Inc. (NYSE:MLI)

Renaissance Technologies LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI) by 151.2% during the fourth quarter, HoldingsChannel reports. The fund owned 477,000 shares of the industrial products company’s stock after acquiring an additional 287,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Mueller Industries were worth $37,855,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in Mueller Industries in the third quarter valued at about $215,000. Quantinno Capital Management LP grew its position in shares of Mueller Industries by 18.4% in the 3rd quarter. Quantinno Capital Management LP now owns 5,153 shares of the industrial products company’s stock worth $382,000 after buying an additional 801 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Mueller Industries during the 3rd quarter worth approximately $245,000. Barclays PLC lifted its position in Mueller Industries by 343.9% during the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after acquiring an additional 152,780 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Mueller Industries by 14.2% in the third quarter. Coldstream Capital Management Inc. now owns 4,413 shares of the industrial products company’s stock valued at $328,000 after acquiring an additional 549 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Down 4.0 %

NYSE MLI opened at $72.68 on Friday. The firm’s fifty day simple moving average is $78.40 and its two-hundred day simple moving average is $79.86. The firm has a market capitalization of $8.05 billion, a P/E ratio of 13.69 and a beta of 0.96. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by insiders.

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.