Maridea Wealth Management LLC Invests $549,000 in Mueller Industries, Inc. (NYSE:MLI)

Maridea Wealth Management LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,921 shares of the industrial products company's stock, valued at approximately $549,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. William Blair Investment Management LLC purchased a new stake in Mueller Industries during the 4th quarter worth approximately $201,376,000. Norges Bank acquired a new stake in Mueller Industries during the fourth quarter worth about $117,351,000. Allianz Asset Management GmbH raised its position in shares of Mueller Industries by 135.7% during the 4th 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 acquired a new stake in Mueller Industries during the fourth quarter worth $19,376,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Mueller Industries by 77.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company's stock valued at $29,152,000 after purchasing an additional 171,671 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by company insiders.

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Mueller Industries Trading Up 1.8 %

Mueller Industries stock traded up $1.37 during trading on Wednesday, hitting $78.89. The company had a trading volume of 276,750 shares, compared to its average volume of 894,187. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 14.86 and a beta of 0.99. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81. The company's 50 day simple moving average is $79.70 and its 200-day simple moving average is $79.91.

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

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

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

Mueller Industries 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.