Blair William & Co. IL Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Blair William & Co. IL purchased a new position in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,774 shares of the industrial products company’s stock, valued at approximately $1,093,000.

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

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’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 sale, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Wednesday, December 11th.

Mueller Industries Stock Up 2.5 %

MLI stock opened at $79.49 on Thursday. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 14.97 and a beta of 0.99. The business’s fifty day simple moving average is $79.66 and its two-hundred day simple moving average is $79.91.

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

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is currently 18.83%.

Mueller Industries Company Profile

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.