Virtu Financial LLC Raises Stake in Mueller Industries, Inc. (NYSE:MLI)

Virtu Financial LLC grew its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 148.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,350 shares of the industrial products company's stock after buying an additional 5,592 shares during the period. Virtu Financial LLC's holdings in Mueller Industries were worth $742,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Mueller Industries in the fourth quarter worth approximately $2,194,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Mueller Industries by 3.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,119 shares of the industrial products company's stock worth $1,993,000 after purchasing an additional 896 shares during the period. Lingohr Asset Management GmbH acquired a new stake in shares of Mueller Industries during the 4th quarter worth about $422,000. Teacher Retirement System of Texas raised its holdings in Mueller Industries by 116.4% in the 4th quarter. Teacher Retirement System of Texas now owns 61,134 shares of the industrial products company's stock valued at $4,852,000 after buying an additional 32,883 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its holdings in Mueller Industries by 48.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 11,825 shares of the industrial products company's stock valued at $939,000 after buying an additional 3,852 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

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Mueller Industries Stock Down 0.3 %

NYSE MLI traded down $0.20 on Tuesday, reaching $79.27. The stock had a trading volume of 659,698 shares, compared to its average volume of 835,683. The stock has a fifty day moving average price of $80.19 and a two-hundred day moving average price of $79.48. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 14.93 and a beta of 0.99.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction on 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 represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company's stock.

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

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.