BankPlus Trust Department Acquires New Stake in Mueller Industries, Inc. (NYSE:MLI)

BankPlus Trust Department bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,521 shares of the industrial products company's stock, valued at approximately $359,000.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after acquiring an additional 139,406 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock valued at $108,907,000 after purchasing an additional 315,490 shares in the last quarter. FMR LLC increased its position in shares of Mueller Industries by 2.6% during the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock valued at $79,039,000 after buying an additional 27,399 shares during the period. Systematic Financial Management LP raised its stake in Mueller Industries by 1.6% in the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock worth $69,605,000 after buying an additional 14,729 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Mueller Industries by 135.7% in the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock worth $40,341,000 after buying an additional 292,697 shares during the period. 94.50% of the stock is owned by institutional investors.

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Mueller Industries Stock Up 1.8 %

Shares of MLI stock traded up $1.38 during mid-day trading on Friday, reaching $80.18. 835,347 shares of the company's stock traded hands, compared to its average volume of 762,435. The company's 50-day moving average price is $80.18 and its 200-day moving average price is $78.09. The company has a market cap of $9.12 billion, a P/E ratio of 15.10 and a beta of 0.98. Mueller Industries, Inc. has a 12 month low of $49.95 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.25 dividend. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Mueller Industries's payout ratio is presently 18.83%.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on 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 owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Northcoast Research upgraded 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.

Mueller Industries 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.