Knights of Columbus Asset Advisors LLC Acquires 4,370 Shares of Mueller Industries, Inc. (NYSE:MLI)

Knights of Columbus Asset Advisors LLC raised its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 167.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,978 shares of the industrial products company's stock after buying 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 SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new stake in Mueller Industries during the 3rd quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Mueller Industries during the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at $53,000. City State Bank bought a new position in shares of Mueller Industries in the fourth quarter valued at about $58,000. Finally, GAMMA Investing LLC lifted its position in Mueller Industries by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock worth $64,000 after buying an additional 258 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Performance

MLI traded down $1.32 during mid-day trading on Thursday, reaching $77.57. The stock had a trading volume of 613,099 shares, compared to its average volume of 834,023. The firm's fifty day simple moving average is $80.11 and its two-hundred day simple moving average is $79.57. The stock has a market capitalization of $8.79 billion, a P/E ratio of 14.61 and a beta of 0.99. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81.

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Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts' consensus estimates 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, March 14th. Mueller Industries's dividend payout ratio is currently 18.83%.

Analyst Ratings Changes

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 note on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm's 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 of the company's stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.