4,850 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by TradeLink Capital LLC

TradeLink Capital LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,850 shares of the industrial products company's stock, valued at approximately $385,000. Mueller Industries comprises approximately 3.8% of TradeLink Capital LLC's holdings, making the stock its 10th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of 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. Flagship Harbor Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter valued at about $300,000. Merit Financial Group LLC bought a new position in shares of Mueller Industries during the 4th quarter worth about $287,000. Rhumbline Advisers grew its stake in shares of Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after buying an additional 43,893 shares during the period. Finally, Congress Asset Management Co. increased its position in Mueller Industries by 6.5% in the 4th quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock valued at $16,081,000 after buying an additional 12,450 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

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Analysts Set New Price Targets

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

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded down $0.59 during trading hours on Thursday, reaching $78.24. The company's stock had a trading volume of 1,082,309 shares, compared to its average volume of 832,943. The company has a market capitalization of $8.86 billion, a P/E ratio of 14.73 and a beta of 0.99. The stock's fifty day simple moving average is $80.21 and its two-hundred day simple moving average is $78.89. Mueller Industries, Inc. has a one year low of $50.84 and a one year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.28%. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company's stock.

Mueller Industries Company 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.