Mutual of America Capital Management LLC Acquires 45,311 Shares of Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC raised its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,854 shares of the industrial products company's stock after acquiring an additional 45,311 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.25% of Mueller Industries worth $22,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLI. New York State Common Retirement Fund lifted its stake in Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company's stock valued at $30,056,000 after purchasing an additional 68,633 shares during the last quarter. 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 valued at $329,830,000 after buying an additional 139,406 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Mueller Industries by 1,322.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company's stock valued at $625,000 after buying an additional 7,843 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Mueller Industries during the 4th quarter worth $300,000. Finally, Merit Financial Group LLC purchased a new stake in Mueller Industries in the 4th quarter worth about $287,000. 94.50% of the stock is owned by institutional investors.

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

Mueller Industries Stock Down 1.3 %

MLI traded down $1.04 on Tuesday, hitting $78.46. The company's stock had a trading volume of 711,290 shares, compared to its average volume of 766,427. Mueller Industries, Inc. has a 12 month low of $49.95 and a 12 month high of $96.81. The firm has a market cap of $8.89 billion, a P/E ratio of 14.78 and a beta of 0.98. The company's 50 day simple moving average is $80.18 and its 200-day simple moving average is $78.41.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results 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 business 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 dividend of $0.25 per share. The ex-dividend date is Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Mueller Industries's dividend payout ratio is currently 18.83%.

Insider Transactions at Mueller Industries

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 owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company's stock.

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.