Commonwealth Equity Services LLC Grows Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Commonwealth Equity Services LLC increased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 59,708 shares of the industrial products company's stock after acquiring an additional 5,997 shares during the quarter. Commonwealth Equity Services LLC owned about 0.05% of Mueller Industries worth $4,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after purchasing an additional 139,406 shares during the period. Charles Schwab Investment Management Inc. lifted 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 buying an additional 315,490 shares in the last quarter. FMR LLC boosted its holdings in Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock worth $79,039,000 after buying an additional 27,399 shares during the period. Systematic Financial Management LP grew its stake in Mueller Industries by 1.6% in the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock valued at $69,605,000 after buying an additional 14,729 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Mueller Industries by 135.7% during the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock valued at $40,341,000 after acquiring an additional 292,697 shares during the period. 94.50% of the stock is currently owned by institutional investors.

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Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction dated 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 approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

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 for the company in a report on Wednesday, December 11th.

Mueller Industries Price Performance

MLI stock traded down $0.29 during mid-day trading on Wednesday, reaching $78.93. 435,943 shares of the company traded hands, compared to its average volume of 834,900. The company has a fifty day moving average price of $80.11 and a 200-day moving average price of $79.57. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The company has a market capitalization of $8.94 billion, a P/E ratio of 14.86 and a beta of 0.99.

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, beating the consensus estimate 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

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.