Orion Portfolio Solutions LLC reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,825 shares of the industrial products company's stock after selling 7,922 shares during the period. Orion Portfolio Solutions LLC's holdings in Mueller Industries were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock valued at $329,830,000 after acquiring an additional 139,406 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $201,376,000. Norges Bank purchased a new position in shares of Mueller Industries in the fourth quarter valued at approximately $117,351,000. FMR LLC increased its stake in Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock worth $79,039,000 after buying an additional 27,399 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in Mueller Industries by 1.6% during the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock worth $69,605,000 after buying an additional 14,729 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.
Mueller Industries Stock Down 4.6 %
NYSE MLI traded down $3.41 during trading hours on Friday, hitting $70.67. 1,163,961 shares of the company were exchanged, compared to its average volume of 903,389. The company has a 50 day moving average of $79.31 and a two-hundred day moving average of $79.93. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 13.31 and a beta of 0.99. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81.
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, topping 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 announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is 18.83%.
Insider Buying and Selling at Mueller Industries
In other news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares of the company's stock, valued at approximately $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 accessible through the SEC website. 2.80% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Separately, Northcoast Research upgraded shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price target for the company in a research note on Wednesday, December 11th.
View Our Latest Analysis on Mueller Industries
About Mueller Industries
(
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.
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