Virtu Financial LLC raised its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 148.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Mueller Industries during the 4th quarter worth $2,194,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Mueller Industries by 3.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,119 shares of the industrial products company's stock valued at $1,993,000 after purchasing an additional 896 shares in the last quarter. Lingohr Asset Management GmbH bought a new stake in shares of Mueller Industries during the fourth quarter worth about $422,000. Teacher Retirement System of Texas increased its stake in shares of Mueller Industries by 116.4% in the fourth 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 last quarter. Institutional investors own 94.50% of the company's stock.
Wall Street Analyst Weigh In
Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price on the stock in a report on Wednesday, December 11th.
Read Our Latest Report on Mueller Industries
Insider Buying and Selling
In related news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now 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 SEC, which is available at the SEC website. 2.80% of the stock is owned by insiders.
Mueller Industries Price Performance
NYSE MLI traded down $0.93 on Friday, reaching $76.58. The company had a trading volume of 576,007 shares, compared to its average volume of 895,494. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 14.42 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The business has a 50 day moving average of $79.92 and a two-hundred day moving average of $79.63.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its 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 return on equity of 22.97% and a net margin of 16.05%.
Mueller Industries Increases Dividend
The company also recently disclosed 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 boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. Mueller Industries's dividend payout ratio is 18.83%.
Mueller Industries Profile
(
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.
Featured Stories
Before you consider Mueller Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.
While Mueller Industries currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
