Mueller Industries, Inc. (NYSE:MLI) Holdings Boosted by Freedom Day Solutions LLC

Freedom Day Solutions LLC raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 99.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,310 shares of the industrial products company's stock after buying an additional 21,555 shares during the quarter. Freedom Day Solutions LLC's holdings in Mueller Industries were worth $2,042,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MLI. Allspring Global Investments Holdings LLC grew its holdings in Mueller Industries by 90.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company's stock valued at $237,633,000 after buying an additional 2,399,862 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Mueller Industries by 284.1% during the 1st quarter. First Trust Advisors LP now owns 2,701,964 shares of the industrial products company's stock worth $198,540,000 after purchasing an additional 1,998,534 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Mueller Industries by 194.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company's stock worth $135,938,000 after purchasing an additional 1,903,745 shares during the period. Norges Bank purchased a new position in shares of Mueller Industries during the 4th quarter worth $39,197,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Mueller Industries by 1,084.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 671,768 shares of the industrial products company's stock worth $4,010,000 after purchasing an additional 615,064 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

Shares of MLI traded down $0.53 during trading hours on Friday, hitting $51.72. The stock had a trading volume of 387,347 shares, compared to its average volume of 662,331. The firm has a market cap of $5.88 billion, a P/E ratio of 9.73 and a beta of 1.08. The company's fifty day simple moving average is $51.38 and its 200 day simple moving average is $45.85. Mueller Industries, Inc. has a 12-month low of $33.59 and a 12-month high of $54.64.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. The business had revenue of $732.38 million for 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. Investors of record on Friday, March 15th were given a $0.20 dividend. This is a positive change from Mueller Industries's previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries's dividend payout ratio (DPR) is 15.05%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MLI. Northcoast Research reissued a "neutral" rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com lowered Mueller Industries from a "buy" rating to a "hold" rating in a research note on Monday, January 22nd.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now directly owns 18,000 shares of the company's stock, valued at $887,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm's stock in a transaction dated 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 directly owns 370,840 shares of the company's stock, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 5,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.