Massachusetts Financial Services Co. MA lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,762 shares of the industrial products company's stock after selling 9,655 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.08% of Mueller Industries worth $7,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in Mueller Industries in the third quarter worth $215,000. Benjamin Edwards Inc. purchased a new position in Mueller Industries during the 3rd quarter worth $278,000. Janus Henderson Group PLC grew its stake in Mueller Industries by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 145,103 shares of the industrial products company's stock worth $10,753,000 after buying an additional 15,413 shares during the last quarter. Quantinno Capital Management LP increased its position in Mueller Industries by 18.4% during the 3rd quarter. Quantinno Capital Management LP now owns 5,153 shares of the industrial products company's stock valued at $382,000 after buying an additional 801 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Mueller Industries by 87.8% in the third quarter. Stifel Financial Corp now owns 185,590 shares of the industrial products company's stock valued at $13,752,000 after buying an additional 86,748 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.
Insiders Place Their Bets
In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, 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. 2.80% of the stock is currently owned by insiders.
Mueller Industries Trading Up 2.2 %
Shares of MLI stock traded up $1.63 during trading hours on Friday, reaching $74.24. 704,260 shares of the company's stock were exchanged, compared to its average volume of 914,304. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81. The stock has a market cap of $8.22 billion, a PE ratio of 13.98 and a beta of 0.96. The stock's fifty day moving average price is $78.36 and its two-hundred day moving average price is $79.88.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly 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 net margin of 16.05% and a return on equity of 22.97%.
Mueller Industries Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 1.35%. Mueller Industries's dividend payout ratio (DPR) is 18.83%.
Mueller Industries Company Profile
(
Free Report)
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.
Further Reading
Before you consider Mueller Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.
While Mueller Industries currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
