Ausbil Investment Management Ltd lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,853 shares of the industrial products company's stock after selling 13,404 shares during the quarter. Mueller Industries accounts for about 1.9% of Ausbil Investment Management Ltd's holdings, making the stock its 23rd biggest position. Ausbil Investment Management Ltd's holdings in Mueller Industries were worth $3,218,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in shares of Mueller Industries by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,266 shares of the industrial products company's stock worth $3,659,000 after buying an additional 798 shares during the last quarter. Creative Planning raised its stake in Mueller Industries by 6.9% in the 2nd quarter. Creative Planning now owns 29,367 shares of the industrial products company's stock valued at $1,672,000 after purchasing an additional 1,897 shares during the last quarter. Quarry LP grew its holdings in Mueller Industries by 525.5% in the 2nd quarter. Quarry LP now owns 1,301 shares of the industrial products company's stock valued at $74,000 after buying an additional 1,093 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Mueller Industries by 138.6% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,817 shares of the industrial products company's stock worth $616,000 after purchasing an additional 6,284 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Mueller Industries during the 2nd quarter worth about $599,000. Hedge funds and other institutional investors own 94.50% of the company's stock.
Insider Transactions at Mueller Industries
In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares of the company's stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.80% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Northcoast Research upgraded Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price target for the company in a report on Wednesday, December 11th.
View Our Latest Report on MLI
Mueller Industries Price Performance
Shares of MLI stock traded up $2.58 on Wednesday, hitting $78.86. 503,033 shares of the stock traded hands, compared to its average volume of 711,938. The company has a market capitalization of $8.97 billion, a PE ratio of 15.31 and a beta of 0.98. The company's fifty day moving average is $80.30 and its 200 day moving average is $76.73. Mueller Industries, Inc. has a 1-year low of $47.46 and a 1-year high of $96.81.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%.
Mueller Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.20 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. Mueller Industries's payout ratio is 15.53%.
Mueller Industries 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.
See Also
Before you consider Mueller Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.
While Mueller Industries currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
