Westfield Capital Management Co. LP Purchases 84,988 Shares of Mueller Industries, Inc. (NYSE:MLI)

Westfield Capital Management Co. LP raised its position in Mueller Industries, Inc. (NYSE:MLIFree Report) by 114.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,130 shares of the industrial products company’s stock after purchasing an additional 84,988 shares during the quarter. Westfield Capital Management Co. LP owned 0.14% of Mueller Industries worth $7,503,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC bought a new position in Mueller Industries in the third quarter valued at about $30,000. Fifth Third Bancorp increased its stake in shares of Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares during the period. Larson Financial Group LLC increased its stake in shares of Mueller Industries by 100.0% in 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. NBC Securities Inc. acquired a new stake in shares of Mueller Industries in the third quarter valued at about $52,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at about $34,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of MLI stock traded up $0.84 on Friday, hitting $59.10. The company had a trading volume of 467,245 shares, compared to its average volume of 562,726. The firm has a market cap of $6.71 billion, a P/E ratio of 11.84 and a beta of 1.08. The stock’s 50-day moving average is $55.39 and its two-hundred day moving average is $49.50. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $60.31.

Mueller Industries (NYSE:MLIGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share for the quarter. The company had revenue of $849.65 million during the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 7th. This represents a $0.80 annualized dividend and a yield of 1.35%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Buying and Selling

In related news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $58.61, for a total transaction of $160,181.13. Following the completion of the sale, the director now owns 103,914 shares of the company’s stock, valued at $6,090,399.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the sale, the director now directly owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The disclosure for this sale can be found here. Insiders sold 59,169 shares of company stock valued at $3,391,302 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Mueller Industries Company Profile

(Free Report)

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.

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

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