Villanova Investment Management Co LLC Has $1.86 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Villanova Investment Management Co LLC lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,464 shares of the industrial products company's stock after selling 3,527 shares during the period. Mueller Industries comprises 1.7% of Villanova Investment Management Co LLC's holdings, making the stock its 27th largest position. Villanova Investment Management Co LLC's holdings in Mueller Industries were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC grew its position in Mueller Industries by 125.1% in the third quarter. Cerity Partners LLC now owns 8,216 shares of the industrial products company's stock valued at $609,000 after purchasing an additional 4,566 shares in the last quarter. FMR LLC increased its position in shares of Mueller Industries by 2.6% in the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock valued at $79,039,000 after acquiring an additional 27,399 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Mueller Industries by 9.1% during the third quarter. BNP Paribas Financial Markets now owns 74,834 shares of the industrial products company's stock worth $5,545,000 after acquiring an additional 6,243 shares in the last quarter. Townsquare Capital LLC bought a new position in Mueller Industries in the third quarter valued at approximately $381,000. Finally, Glenmede Trust Co. NA increased its position in shares of Mueller Industries by 11.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,617 shares of the industrial products company's stock worth $1,454,000 after purchasing an additional 1,976 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

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Analysts Set New Price Targets

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

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business'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 completion of the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by company insiders.

Mueller Industries Price Performance

NYSE MLI traded down $3.41 during trading on Friday, reaching $70.67. 1,163,418 shares of the company's stock were exchanged, compared to its average volume of 899,636. The business has a 50 day moving average price of $79.51 and a 200-day moving average price of $79.87. The stock has a market capitalization of $8.00 billion, a P/E ratio of 13.31 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81.

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, 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 business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued 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 was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. Mueller Industries's payout ratio is presently 18.83%.

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.