Mutual of America Capital Management LLC Raises Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,199 shares of the industrial products company's stock after purchasing an additional 92,781 shares during the quarter. Mutual of America Capital Management LLC owned about 0.31% of Mueller Industries worth $16,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beaird Harris Wealth Management LLC bought a new position in Mueller Industries in the third quarter valued at about $30,000. Fifth Third Bancorp grew its position in Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Adirondack Trust Co. bought a new position in Mueller Industries in the third quarter valued at about $45,000. NBC Securities Inc. bought a new position in Mueller Industries in the third quarter valued at about $52,000. Finally, Point72 Hong Kong Ltd bought a new position in Mueller Industries in the second quarter valued at about $40,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded down $0.52 on Friday, hitting $51.73. The stock had a trading volume of 387,347 shares, compared to its average volume of 657,926. The stock has a 50 day moving average of $51.33 and a 200 day moving average of $45.69. Mueller Industries, Inc. has a twelve month low of $33.59 and a twelve month high of $54.64. The firm has a market capitalization of $5.88 billion, a P/E ratio of 9.83 and a beta of 1.08.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The company had revenue of $732.38 million during the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.15. Mueller Industries's dividend payout ratio is currently 15.05%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now owns 370,840 shares of the company's stock, valued at approximately $18,263,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MLI shares. Northcoast Research reiterated a "neutral" rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com cut Mueller Industries from a "buy" rating to a "hold" rating in a report on Monday, January 22nd.

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.