Flputnam Investment Management Co. Acquires 6,084 Shares of Mueller Industries, Inc. (NYSE:MLI)

Flputnam Investment Management Co. boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 304.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,084 shares of the industrial products company's stock after purchasing an additional 6,084 shares during the period. Flputnam Investment Management Co.'s holdings in Mueller Industries were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLI. CIBC Asset Management Inc increased its stake in shares of Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock valued at $274,000 after buying an additional 174 shares during the period. GM Advisory Group LLC lifted its position in Mueller Industries by 5.3% during the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 192 shares during the period. Caprock Group LLC raised its stake in shares of Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after buying an additional 194 shares during the last quarter. Kestra Investment Management LLC lifted its holdings in Mueller Industries by 7.7% in the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company's stock valued at $242,000 after buying an additional 218 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 258 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Mueller Industries Stock Performance

NYSE MLI traded up $2.63 during trading hours on Friday, reaching $82.17. 1,134,730 shares of the company's stock were exchanged, compared to its average volume of 825,275. Mueller Industries, Inc. has a one year low of $50.75 and a one year high of $96.81. The company's 50-day moving average is $80.09 and its two-hundred day moving average is $78.50. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.47 and a beta of 0.98.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. 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 1.22%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction that occurred 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 $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company 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.