Commonwealth Equity Services LLC Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Commonwealth Equity Services LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,708 shares of the industrial products company’s stock after purchasing an additional 5,997 shares during the period. Commonwealth Equity Services LLC owned 0.05% of Mueller Industries worth $4,738,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Westside Investment Management Inc. acquired a new stake in Mueller Industries during the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Mueller Industries during the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries during the fourth quarter valued at $53,000. City State Bank purchased a new stake in Mueller Industries during the 4th quarter worth about $58,000. Finally, GAMMA Investing LLC raised its stake in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Shares of MLI opened at $77.34 on Monday. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The stock has a fifty day moving average of $80.18 and a two-hundred day moving average of $79.39. The company has a market capitalization of $8.76 billion, a PE ratio of 14.56 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a report on Wednesday, December 11th.

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.