Xponance Inc. Invests $240,000 in Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,268 shares of the industrial products company's stock, valued at approximately $240,000.

A number of other large investors have also recently made changes to their positions in MLI. Norges Bank bought a new stake in shares of Mueller Industries in the fourth quarter worth approximately $39,197,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Mueller Industries in the first quarter worth approximately $29,681,000. Goldman Sachs Group Inc. grew its stake in shares of Mueller Industries by 78.8% in the first quarter. Goldman Sachs Group Inc. now owns 535,688 shares of the industrial products company's stock worth $29,018,000 after acquiring an additional 236,056 shares during the period. Premier Fund Managers Ltd bought a new stake in shares of Mueller Industries in the fourth quarter worth approximately $10,910,000. Finally, Jupiter Asset Management Ltd. grew its stake in shares of Mueller Industries by 239.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 285,495 shares of the industrial products company's stock worth $16,844,000 after acquiring an additional 201,438 shares during the period. 95.39% of the stock is currently owned by institutional investors.

Separately, StockNews.com downgraded shares of Mueller Industries from a "buy" rating to a "hold" rating in a report on Monday, May 29th.

MLI opened at $87.33 on Wednesday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 7.33 and a beta of 1.12. The company's 50 day moving average is $78.83 and its 200 day moving average is $72.14. Mueller Industries, Inc. has a 12-month low of $51.07 and a 12-month high of $87.98.

Mueller Industries (NYSE:MLI - Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.07 earnings per share (EPS) for the quarter. The company had revenue of $971.19 million for the quarter. Mueller Industries had a net margin of 17.07% and a return on equity of 38.46%.

The company also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, June 1st. Mueller Industries's dividend payout ratio is currently 10.07%.

In other Mueller Industries news, Director John B. Hansen sold 500 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $70.47, for a total transaction of $35,235.00. Following the transaction, the director now owns 12,000 shares of the company's stock, valued at $845,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 13,800 shares of Mueller Industries stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $79.64, for a total transaction of $1,099,032.00. Following the transaction, the chief executive officer now owns 78,900 shares of the company's stock, valued at $6,283,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 500 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $70.47, for a total transaction of $35,235.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $845,640. The disclosure for this sale can be found here. Insiders have sold 49,740 shares of company stock valued at $3,829,981 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

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