Headlands Technologies LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,616 shares of the industrial products company's stock, valued at approximately $604,000.
A number of other large investors also recently made changes to their positions in MLI. Arizona State Retirement System boosted its stake in shares of Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock valued at $2,480,000 after purchasing an additional 170 shares during the period. CIBC Asset Management Inc raised its position in shares of Mueller Industries by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock valued at $274,000 after acquiring an additional 174 shares in the last quarter. Caprock Group LLC lifted its stake in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after purchasing an additional 194 shares during the last quarter. Kestra Investment Management LLC lifted its stake in Mueller Industries by 7.7% during the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company's stock worth $242,000 after purchasing an additional 218 shares during the last quarter. Finally, Addison Capital Co boosted its holdings in Mueller Industries by 0.5% in the fourth quarter. Addison Capital Co now owns 51,325 shares of the industrial products company's stock worth $4,073,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.
Insider Transactions at Mueller Industries
In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at $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 is available at this link. Corporate insiders own 2.80% of the company's stock.
Mueller Industries Trading Down 1.9 %
NYSE MLI traded down $1.37 during trading hours on Monday, reaching $69.23. The company's stock had a trading volume of 437,610 shares, compared to its average volume of 901,608. The business has a 50-day simple moving average of $79.31 and a 200 day simple moving average of $79.99. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The stock has a market cap of $7.67 billion, a PE ratio of 12.94 and a beta of 0.96.
Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is currently 18.83%.
Wall Street Analyst Weigh In
Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price on the stock in a report on Wednesday, December 11th.
Check Out Our Latest Analysis on Mueller Industries
Mueller Industries Company Profile
(
Free Report)
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.
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