2,537,498 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,537,498 shares of the industrial products company's stock, valued at approximately $201,376,000. William Blair Investment Management LLC owned about 2.23% of Mueller Industries at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries during the 4th quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries in the 4th quarter worth approximately $53,000. City State Bank bought a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $58,000. Finally, GAMMA Investing LLC raised its position in shares of Mueller Industries by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 258 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In other Mueller Industries 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company's stock.

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Mueller Industries Trading Down 2.8 %

MLI traded down $2.26 during trading on Friday, reaching $77.34. 3,204,644 shares of the company were exchanged, compared to its average volume of 832,193. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The firm has a 50 day moving average of $80.20 and a 200 day moving average of $79.21. The stock has a market cap of $8.76 billion, a P/E ratio of 14.56 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, beating 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 declared 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 boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Mueller Industries's dividend payout ratio is presently 18.83%.

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

About Mueller Industries

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.