Oliver Luxxe Assets LLC Has $6.27 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Oliver Luxxe Assets LLC boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 33.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,055 shares of the industrial products company's stock after buying an additional 19,847 shares during the quarter. Mueller Industries comprises 1.1% of Oliver Luxxe Assets LLC's portfolio, making the stock its 21st biggest holding. Oliver Luxxe Assets LLC owned 0.07% of Mueller Industries worth $6,274,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MLI. Federated Hermes Inc. acquired a new position in Mueller Industries in the 2nd quarter valued at $28,000. GAMMA Investing LLC increased its stake in shares of Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after purchasing an additional 146 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Mueller Industries during the 3rd quarter worth about $41,000. Harbor Capital Advisors Inc. bought a new stake in Mueller Industries during the 3rd quarter valued at approximately $64,000. Finally, Larson Financial Group LLC grew its holdings in Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company's stock valued at $55,000 after buying an additional 369 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Mueller Industries Stock Up 0.1 %

MLI traded up $0.06 during trading on Monday, reaching $80.80. 458,021 shares of the company's stock were exchanged, compared to its average volume of 517,507. Mueller Industries, Inc. has a fifty-two week low of $44.39 and a fifty-two week high of $96.81. The company has a market capitalization of $9.19 billion, a P/E ratio of 15.69 and a beta of 1.00. The business has a 50 day moving average price of $83.74 and a 200 day moving average price of $73.53.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to analysts' expectations of $936.00 million. The company's quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries's dividend payout ratio is 15.53%.

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

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.