Meritage Portfolio Management increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 297.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,938 shares of the industrial products company's stock after purchasing an additional 15,673 shares during the period. Meritage Portfolio Management's holdings in Mueller Industries were worth $987,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company's stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC raised its stake in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new stake in Mueller Industries during the 3rd quarter valued at $30,000. Adirondack Trust Co. bought a new stake in Mueller Industries during the 3rd quarter valued at $45,000. Finally, Versant Capital Management Inc raised its stake in Mueller Industries by 100.0% during the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 487 shares in the last quarter. Institutional investors own 94.50% of the company's stock.
Insider Buying and Selling
In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction 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 directly owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Insiders have sold 56,280 shares of company stock worth $2,804,350 in the last three months. 2.80% of the stock is currently owned by insiders.
Mueller Industries Stock Performance
Shares of MLI stock traded down $1.08 during mid-day trading on Friday, hitting $57.33. 684,601 shares of the stock traded hands, compared to its average volume of 685,640. Mueller Industries, Inc. has a twelve month low of $34.08 and a twelve month high of $59.59. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 11.49 and a beta of 1.08. The company's 50-day simple moving average is $52.29 and its 200-day simple moving average is $46.86.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results 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 for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.
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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Mueller Industries's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries's payout ratio is presently 16.03%.
Analyst Ratings Changes
Several brokerages have recently issued reports on MLI. 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 research report on Monday, January 22nd.
Check Out Our Latest Stock Analysis on MLI
Mueller Industries Profile
(
Free Report)
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.
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