Catalyst Funds Management Pty Ltd Has $2.54 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Catalyst Funds Management Pty Ltd increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 451.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,000 shares of the industrial products company's stock after purchasing an additional 26,200 shares during the quarter. Catalyst Funds Management Pty Ltd's holdings in Mueller Industries were worth $2,540,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Arizona State Retirement System lifted 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 worth $2,480,000 after buying an additional 170 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after buying an additional 174 shares during the last quarter. GM Advisory Group LLC lifted its stake in shares of Mueller Industries by 5.3% in the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company's stock worth $281,000 after buying an additional 192 shares during the last quarter. Caprock Group LLC lifted its stake in shares of Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after buying an additional 194 shares during the last quarter. Finally, Kestra Investment Management LLC lifted its stake in shares of Mueller Industries by 7.7% in the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company's stock worth $242,000 after buying an additional 218 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $2.17 on Wednesday, reaching $81.48. The stock had a trading volume of 637,541 shares, compared to its average volume of 821,658. The business's 50-day moving average price is $80.17 and its two-hundred day moving average price is $79.19. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The stock has a market cap of $9.23 billion, a P/E ratio of 15.34 and a beta of 0.99.

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 (EPS) 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. Investors of record on Friday, March 14th will be given a dividend of $0.25 per share. 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 1.23%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. 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.