Natixis Advisors LLC Trims Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Natixis Advisors LLC trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 41.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,674 shares of the industrial products company's stock after selling 14,679 shares during the quarter. Natixis Advisors LLC's holdings in Mueller Industries were worth $1,641,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter worth $53,000. City State Bank purchased a new stake in shares of Mueller Industries during the fourth quarter worth $58,000. Finally, GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction 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 directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company's stock.

Mueller Industries Trading Down 0.3 %

NYSE:MLI traded down $0.20 during mid-day trading on Tuesday, hitting $79.27. The stock had a trading volume of 659,698 shares, compared to its average volume of 833,772. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The stock has a 50-day simple moving average of $80.19 and a two-hundred day simple moving average of $79.48. The company has a market capitalization of $8.98 billion, a PE ratio of 14.93 and a beta of 0.99.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued 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 dividend yield of 1.26%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is presently 18.83%.

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.