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

Natixis Advisors LLC lessened its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 41.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 20,674 shares of the industrial products company's stock after selling 14,679 shares during the period. Natixis Advisors LLC's holdings in Mueller Industries were worth $1,641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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. purchased a new position in Mueller Industries in the 4th quarter valued at approximately $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. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI stock traded down $0.93 during trading hours on Friday, reaching $76.58. 576,007 shares of the stock were exchanged, compared to its average volume of 894,466. The business's fifty day moving average is $80.03 and its two-hundred day moving average is $79.56. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81.

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Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries's payout ratio is 18.83%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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 shares were 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 approximately $4,477,181.38. The trade was 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 owned by company insiders.

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.