Xponance Inc. Acquires 8,776 Shares of Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 119.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,103 shares of the industrial products company's stock after acquiring an additional 8,776 shares during the period. Xponance Inc.'s holdings in Mueller Industries were worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MLI. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the third quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries during the 4th quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mueller Industries during the 4th quarter valued at about $53,000. City State Bank purchased a new position in Mueller Industries in the fourth quarter worth about $58,000. Finally, GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 46.7% in 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 in the last quarter. Institutional investors own 94.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised 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.

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Insider Activity at Mueller Industries

In related 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 completion of the sale, the director now owns 56,098 shares in the company, 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. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Performance

Shares of MLI stock traded down $0.20 during mid-day trading on Tuesday, hitting $79.27. The company's stock had a trading volume of 659,698 shares, compared to its average volume of 835,683. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 14.93 and a beta of 0.99. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The business has a 50-day moving average price of $80.16 and a 200 day moving average price of $79.58.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries's payout ratio is presently 18.83%.

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.