Quantbot Technologies LP Buys Shares of 27,645 Mueller Industries, Inc. (NYSE:MLI)

Quantbot Technologies LP purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,645 shares of the industrial products company's stock, valued at approximately $2,194,000.

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

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price for the company in a research note on Wednesday, December 11th.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now directly owns 56,098 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company's stock.

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Mueller Industries Stock Down 1.7 %

Shares of MLI stock traded down $1.32 during mid-day trading on Thursday, reaching $77.57. 613,099 shares of the company's stock traded hands, compared to its average volume of 834,023. The company's 50-day moving average price is $80.11 and its 200-day moving average price is $79.57. The company has a market cap of $8.79 billion, a P/E ratio of 14.61 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping 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 will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.29%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries's payout ratio is 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.