Amalgamated Bank Increases Stake in Mueller Industries, Inc. (NYSE:MLI)

Amalgamated Bank increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 91.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,038 shares of the industrial products company's stock after buying an additional 21,470 shares during the period. Amalgamated Bank's holdings in Mueller Industries were worth $2,124,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC bought a new position in Mueller Industries during the 3rd quarter worth about $30,000. Fifth Third Bancorp boosted 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 valued at $25,000 after buying an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company's stock valued at $28,000 after buying an additional 299 shares in the last quarter. Adirondack Trust Co. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at about $45,000. Finally, NBC Securities Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Down 1.7 %

Shares of Mueller Industries stock traded down $1.00 during midday trading on Monday, hitting $58.27. The company had a trading volume of 462,178 shares, compared to its average volume of 666,904. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $59.76. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 11.83 and a beta of 1.08. The company has a fifty day simple moving average of $54.00 and a 200 day simple moving average of $48.16.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Mueller Industries's dividend payout ratio is presently 16.03%.

Analysts Set New Price Targets

Several equities analysts recently commented on MLI shares. StockNews.com lowered shares of 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.

Insiders Place Their Bets

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of the firm's stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the transaction, the chief financial officer now directly owns 313,529 shares of the company's stock, valued at approximately $17,949,535.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares of the company's stock, valued at approximately $5,970,420.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries stock in a transaction that occurred on Friday, April 26th. The shares were 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 disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

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.