Los Angeles Capital Management LLC Sells 5,100 Shares of Mueller Industries, Inc. (NYSE:MLI)

Los Angeles Capital Management LLC lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,513 shares of the industrial products company's stock after selling 5,100 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Mueller Industries worth $5,755,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company's stock worth $30,056,000 after purchasing an additional 68,633 shares during the last quarter. State Street Corp lifted its stake in shares of Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after purchasing an additional 139,406 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company's stock worth $625,000 after purchasing an additional 7,843 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth $300,000. Finally, Merit Financial Group LLC acquired a new position in shares of Mueller Industries in the fourth quarter worth about $287,000. Institutional investors and hedge funds own 94.50% of the company's stock.

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 on the stock in a research report on Wednesday, December 11th.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 directly owns 56,098 shares of the company's stock, valued at $4,477,181.38. The trade was a 15.13 % 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. Corporate insiders own 2.80% of the company's stock.

Mueller Industries Trading Up 1.8 %

MLI traded up $1.38 on Friday, hitting $80.18. 835,347 shares of the company's stock were exchanged, compared to its average volume of 762,435. The firm has a market cap of $9.12 billion, a PE ratio of 15.10 and a beta of 0.98. Mueller Industries, Inc. has a twelve month low of $49.95 and a twelve month high of $96.81. The stock has a fifty day moving average of $80.18 and a two-hundred day moving average of $78.26.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries's dividend payout ratio (DPR) is 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.