Blue Trust Inc. Has $455,000 Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Blue Trust Inc. increased its position in Mueller Industries, Inc. (NYSE:MLI) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,135 shares of the industrial products company’s stock after buying an additional 957 shares during the period. Blue Trust Inc.’s holdings in Mueller Industries were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares during the period. Kapitalo Investimentos Ltda grew its position in Mueller Industries by 3.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC increased its position in shares of Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 192 shares in the last quarter. Atria Investments Inc boosted its stake in Mueller Industries by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 302 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Mueller Industries by 12.9% in the third quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 318 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

Shares of MLI stock opened at $78.78 on Friday. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81. The company has a market cap of $8.96 billion, a P/E ratio of 15.30 and a beta of 1.00. The firm has a 50-day moving average of $80.48 and a 200-day moving average of $76.37.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 1.02%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Buying and Selling at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, December 11th.

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.