Victory Capital Management Inc. Has $78.58 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Victory Capital Management Inc. grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 99.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,666,651 shares of the industrial products company's stock after acquiring an additional 831,686 shares during the quarter. Victory Capital Management Inc. owned about 1.47% of Mueller Industries worth $78,583,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MLI. Fifth Third Bancorp lifted its holdings in shares of 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 buying an additional 292 shares during the period. Larson Financial Group LLC raised its position in shares of Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company's stock worth $28,000 after purchasing an additional 299 shares during the period. Beaird Harris Wealth Management LLC acquired a new stake in shares of Mueller Industries during the third quarter worth $30,000. Adirondack Trust Co. acquired a new stake in shares of Mueller Industries during the third quarter worth $45,000. Finally, Versant Capital Management Inc raised its position in shares of Mueller Industries by 100.0% during the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company's stock worth $46,000 after purchasing an additional 487 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

NYSE:MLI traded down $0.07 during trading hours on Friday, hitting $56.81. 482,666 shares of the company's stock traded hands, compared to its average volume of 705,536. The firm has a market cap of $6.45 billion, a P/E ratio of 11.38 and a beta of 1.08. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $59.59. The stock's fifty day moving average price is $53.25 and its two-hundred day moving average price is $47.69.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. The firm 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.41%. This is a positive change 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%.

Insider Activity at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company's stock in a transaction on Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now directly owns 313,529 shares of the company's stock, valued at $17,949,535.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the business's stock in a transaction dated Thursday, April 25th. The stock was 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 $5,970,420.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the business's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the completion of the transaction, the chief financial officer now owns 313,529 shares in the company, valued at approximately $17,949,535.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,716 shares of company stock valued at $5,806,311. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

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

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.