Blair William & Co. IL acquired a new position in shares of 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 & Exchange Commission. The firm acquired 13,774 shares of the industrial products company's stock, valued at approximately $1,093,000.
Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in Mueller Industries by 18.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,817 shares of the industrial products company's stock worth $2,525,000 after acquiring an additional 4,938 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Mueller Industries during the fourth quarter worth about $220,000. Corebridge Financial Inc. increased its position in shares of Mueller Industries by 185.7% during the fourth quarter. Corebridge Financial Inc. now owns 183,465 shares of the industrial products company's stock worth $14,560,000 after purchasing an additional 119,257 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Mueller Industries by 59.9% in the 4th quarter. LPL Financial LLC now owns 161,041 shares of the industrial products company's stock valued at $12,780,000 after purchasing an additional 60,354 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Mueller Industries in the 4th quarter valued at about $670,000. Hedge funds and other institutional investors own 94.50% of the company's stock.
Mueller Industries Trading Down 1.4 %
MLI stock traded down $0.97 on Monday, hitting $69.63. The company's stock had a trading volume of 1,245,594 shares, compared to its average volume of 904,752. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 13.11 and a beta of 0.96. The firm has a 50 day moving average of $79.12 and a two-hundred day moving average of $79.96. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.44%. Mueller Industries's dividend payout ratio is currently 18.83%.
Wall Street Analysts Forecast Growth
Separately, Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price target on the stock in a research report on Wednesday, December 11th.
Read Our Latest Report on Mueller Industries
Insider Buying and Selling at Mueller Industries
In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company's stock.
Mueller Industries Company Profile
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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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