Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 364,095 shares of the industrial products company's stock after buying an additional 43,893 shares during the quarter. Rhumbline Advisers owned about 0.32% of Mueller Industries worth $28,895,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in Mueller Industries in the third quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $53,000. City State Bank acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $58,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth approximately $64,000. Finally, GAMMA Investing LLC increased its stake in shares of Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock worth $64,000 after buying an additional 258 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI stock traded down $2.17 during trading hours on Friday, reaching $78.41. 1,100,369 shares of the stock were exchanged, compared to its average volume of 691,262. The firm has a market capitalization of $8.92 billion, a P/E ratio of 14.77 and a beta of 0.98. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81. The business's fifty day moving average is $80.31 and its two-hundred day moving average is $77.75.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate 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 will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. Mueller Industries's dividend payout ratio (DPR) is 15.07%.

Wall Street Analyst Weigh In

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

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm'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 transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company's stock.

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.