Flagship Harbor Advisors LLC Purchases Shares of 3,780 Mueller Industries, Inc. (NYSE:MLI)

Flagship Harbor Advisors LLC purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,780 shares of the industrial products company's stock, valued at approximately $300,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after buying an additional 146 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of Mueller Industries in the third quarter worth about $41,000. City State Bank bought a new position in Mueller Industries in the fourth quarter worth approximately $58,000. Harbor Capital Advisors Inc. purchased a new position in Mueller Industries during the 3rd quarter worth $64,000. Finally, Quarry LP grew its position in Mueller Industries by 525.5% during the 2nd quarter. Quarry LP now owns 1,301 shares of the industrial products company's stock worth $74,000 after purchasing an additional 1,093 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company's stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Up 0.9 %

NYSE:MLI traded up $0.68 on Thursday, reaching $80.19. The company's stock had a trading volume of 140,408 shares, compared to its average volume of 669,342. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 15.59 and a beta of 1.00. The stock has a 50 day moving average price of $80.89 and a 200 day moving average price of $76.22. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries's dividend payout ratio is currently 15.53%.

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.