Wells Fargo & Company MN Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Wells Fargo & Company MN increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,156 shares of the industrial products company’s stock after buying an additional 29,470 shares during the period. Wells Fargo & Company MN’s holdings in Mueller Industries were worth $14,535,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries in the fourth quarter worth $32,000. Westside Investment Management Inc. purchased a new stake in Mueller Industries during the 3rd quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries in the 4th quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries in the 4th quarter valued at about $53,000. Finally, City State Bank acquired a new position in shares of Mueller Industries during the fourth quarter worth about $58,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now 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 SEC, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.4 %

Shares of NYSE:MLI opened at $73.82 on Tuesday. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The firm’s 50 day moving average price is $78.27 and its 200 day moving average price is $79.95. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 13.90 and a beta of 0.96.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.25 per share. 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 1.35%. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 18.83%.

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.