Amalgamated Bank Buys 18,560 Shares of Mueller Industries, Inc. (NYSE:MLI)

Amalgamated Bank boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,893 shares of the industrial products company's stock after acquiring an additional 18,560 shares during the period. Amalgamated Bank's holdings in Mueller Industries were worth $4,118,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MLI. State Street Corp raised its stake in shares of Mueller Industries by 3.2% in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock worth $108,907,000 after buying an additional 315,490 shares in the last quarter. FMR LLC raised its position in Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock valued at $79,039,000 after buying an additional 27,399 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of Mueller Industries by 1.6% during the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock valued at $69,605,000 after purchasing an additional 14,729 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted 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 worth $40,341,000 after buying an additional 292,697 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

NYSE MLI traded down $0.81 on Tuesday, hitting $78.70. The stock had a trading volume of 615,592 shares, compared to its average volume of 817,554. The firm has a 50-day moving average of $80.18 and a 200-day moving average of $78.41. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 14.80 and a beta of 0.98. Mueller Industries, Inc. has a 52-week low of $49.95 and a 52-week high of $96.81.

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

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 given a dividend of $0.25 per share. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 transaction, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company's stock.

About Mueller Industries

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.