Lingohr Asset Management GmbH Purchases Shares of 5,284 Mueller Industries, Inc. (NYSE:MLI)

Lingohr Asset Management GmbH bought 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 SEC. The firm bought 5,284 shares of the industrial products company's stock, valued at approximately $422,000.

Several other institutional investors and hedge funds have also made changes to their positions in MLI. Westside Investment Management Inc. acquired a new position in Mueller Industries during the third quarter worth $41,000. SBI Securities Co. Ltd. purchased a new position in shares of 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 4th quarter valued at about $53,000. City State Bank purchased a new stake in shares of Mueller Industries in the fourth quarter valued at about $58,000. Finally, GAMMA Investing LLC increased its position in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock worth $64,000 after purchasing an additional 258 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of NYSE:MLI traded up $2.21 during midday trading on Monday, reaching $79.46. 909,686 shares of the company's stock were exchanged, compared to its average volume of 833,984. The firm's 50 day simple moving average is $80.19 and its two-hundred day simple moving average is $79.48. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 14.96 and a beta of 0.99.

Remove Ads

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 (EPS) for the quarter, beating analysts' consensus estimates 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. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a 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 dividend payout ratio is 18.83%.

Analyst Upgrades and Downgrades

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 note on Wednesday, December 11th.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the 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 transaction, the director now owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company's stock.

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.