Raymond James & Associates Has $2.91 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Raymond James & Associates raised its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 99.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,800 shares of the industrial products company's stock after purchasing an additional 30,777 shares during the period. Raymond James & Associates owned 0.05% of Mueller Industries worth $2,914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY boosted its stake in Mueller Industries by 4.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,439 shares of the industrial products company's stock worth $203,000 after acquiring an additional 144 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Mueller Industries by 3.6% in the second quarter. Captrust Financial Advisors now owns 5,101 shares of the industrial products company's stock worth $272,000 after purchasing an additional 175 shares during the period. MML Investors Services LLC boosted its position in shares of Mueller Industries by 6.3% in the second quarter. MML Investors Services LLC now owns 3,898 shares of the industrial products company's stock worth $340,000 after purchasing an additional 230 shares during the period. Lido Advisors LLC boosted its position in shares of Mueller Industries by 4.0% in the first quarter. Lido Advisors LLC now owns 6,427 shares of the industrial products company's stock worth $472,000 after purchasing an additional 249 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Mueller Industries by 0.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 36,977 shares of the industrial products company's stock worth $2,717,000 after acquiring an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded up $0.03 during midday trading on Monday, hitting $51.75. The stock had a trading volume of 377,927 shares, compared to its average volume of 654,037. The firm has a market cap of $5.88 billion, a PE ratio of 9.74 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $33.59 and a 1 year high of $54.64. The stock's 50 day moving average is $51.45 and its 200 day moving average is $46.01.

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

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. Mueller Industries's dividend payout ratio (DPR) is 15.05%.

Insider Buying and Selling

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm's 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 transaction, the chief financial officer now directly 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 this link. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 5,000 shares of the company's stock in a transaction 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 owns 18,000 shares of the company's stock, valued at $887,940. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MLI shares. Northcoast Research restated a "neutral" rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a "buy" rating to a "hold" rating in a research report on Monday, January 22nd.

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.