Pictet Asset Management Holding SA Grows Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Pictet Asset Management Holding SA grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,079 shares of the industrial products company’s stock after acquiring an additional 2,569 shares during the period. Pictet Asset Management Holding SA’s holdings in Mueller Industries were worth $1,276,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MLI. Cerity Partners LLC boosted its stake in Mueller Industries by 125.1% in the 3rd quarter. Cerity Partners LLC now owns 8,216 shares of the industrial products company’s stock worth $609,000 after purchasing an additional 4,566 shares during the period. Captrust Financial Advisors bought a new position in shares of Mueller Industries in the third quarter valued at approximately $215,000. Benjamin Edwards Inc. bought a new position in shares of Mueller Industries in the third quarter valued at approximately $278,000. Janus Henderson Group PLC grew its stake in Mueller Industries by 11.9% during the third quarter. Janus Henderson Group PLC now owns 145,103 shares of the industrial products company’s stock valued at $10,753,000 after acquiring an additional 15,413 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $5,459,000. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 4.6 %

Shares of NYSE MLI opened at $70.67 on Friday. The stock’s 50-day simple moving average is $79.31 and its two-hundred day simple moving average is $79.93. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The firm has a market capitalization of $8.00 billion, a P/E ratio of 13.31 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.42%. Mueller Industries’s payout ratio is 18.83%.

Wall Street Analyst Weigh In

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 research 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.