Fox Run Management L.L.C. Takes $670,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Fox Run Management L.L.C. bought a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,439 shares of the industrial products company's stock, valued at approximately $670,000.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in Mueller Industries during the 4th quarter worth approximately $201,376,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Mueller Industries by 27.3% during the third 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. Allianz Asset Management GmbH raised its position in Mueller Industries by 135.7% during the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock valued at $40,341,000 after buying an additional 292,697 shares during the period. Four Tree Island Advisory LLC purchased a new stake in Mueller Industries in the 4th quarter worth about $19,376,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Mueller Industries by 77.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company's stock worth $29,152,000 after acquiring an additional 171,671 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded shares of 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.

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Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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 transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company's stock.

Mueller Industries Stock Down 1.2 %

Shares of NYSE:MLI traded down $0.93 during trading on Friday, reaching $76.58. 576,007 shares of the company traded hands, compared to its average volume of 895,494. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81. The firm has a market cap of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99. The firm has a fifty day simple moving average of $79.92 and a 200 day simple moving average of $79.63.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results 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 return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. 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 1.31%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is currently 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.