Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 167.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,978 shares of the industrial products company's stock after purchasing an additional 4,370 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Mueller Industries were worth $554,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MLI. State Street Corp lifted its holdings 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 during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Mueller Industries in the 4th quarter worth $300,000. Merit Financial Group LLC purchased a new stake in shares of Mueller Industries in the fourth quarter valued at about $287,000. Rhumbline Advisers increased its stake in shares of Mueller Industries by 13.7% during the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock worth $28,895,000 after acquiring an additional 43,893 shares during the period. Finally, US Bancorp DE raised its holdings in Mueller Industries by 3.0% during the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after purchasing an additional 537 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

NYSE:MLI traded down $0.20 during trading hours on Tuesday, hitting $79.27. The company's stock had a trading volume of 443,896 shares, compared to its average volume of 833,772. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The business's 50-day moving average is $80.19 and its two-hundred day moving average is $79.48. The company has a market capitalization of $8.98 billion, a PE ratio of 14.93 and a beta of 0.99.

Remove Ads

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries's dividend payout ratio is currently 18.83%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised 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 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.