Integrated Quantitative Investments LLC Takes $1.02 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Integrated Quantitative Investments LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,800 shares of the industrial products company's stock, valued at approximately $1,016,000.

Several other large investors have also recently bought and sold shares of MLI. New Age Alpha Advisors LLC bought a new stake in shares of Mueller Industries in the 4th quarter worth approximately $32,000. Westside Investment Management Inc. bought a new position in Mueller Industries in the third quarter worth $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries in the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mueller Industries in the 4th quarter valued at $53,000. Finally, City State Bank bought a new stake in Mueller Industries in the fourth quarter valued at about $58,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Down 1.4 %

Shares of Mueller Industries stock traded down $0.97 during mid-day trading on Monday, reaching $69.63. 1,245,594 shares of the stock were exchanged, compared to its average volume of 904,752. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 13.11 and a beta of 0.96. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The firm has a 50-day simple moving average of $79.31 and a 200 day simple moving average of $79.99.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share 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%.

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Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. Mueller Industries's payout ratio is currently 18.83%.

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 dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price target on the stock in a research report on Wednesday, December 11th.

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.