Fox Run Management L.L.C. Makes New $670,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries during the third quarter valued at approximately $41,000. SBI Securities Co. Ltd. purchased a new position in Mueller Industries during the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter valued at about $53,000. City State Bank acquired a new position in Mueller Industries during the 4th quarter valued at approximately $58,000. Finally, GAMMA Investing LLC raised its stake in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock worth $64,000 after acquiring an additional 258 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is owned by company insiders.

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

Mueller Industries Stock Performance

Shares of MLI traded down $0.20 during trading hours on Tuesday, hitting $79.27. The stock had a trading volume of 659,698 shares, compared to its average volume of 835,683. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 14.93 and a beta of 0.99. The firm has a 50-day moving average price of $80.16 and a 200 day moving average price of $79.58. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81.

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, 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 company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries's payout ratio is presently 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.