Merit Financial Group LLC Invests $287,000 in Mueller Industries, Inc. (NYSE:MLI)

Merit Financial Group LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, HoldingsChannel.com reports. The firm bought 3,620 shares of the industrial products company’s stock, valued at approximately $287,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Mueller Industries during the 3rd quarter worth approximately $41,000. City State Bank purchased a new position in Mueller Industries during the 4th quarter worth approximately $58,000. Harbor Capital Advisors Inc. acquired a new position in Mueller Industries during the third quarter worth approximately $64,000. Finally, Quarry LP lifted its stake in Mueller Industries by 525.5% in the second quarter. Quarry LP now owns 1,301 shares of the industrial products company’s stock valued at $74,000 after buying an additional 1,093 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

NYSE MLI opened at $80.78 on Friday. Mueller Industries, Inc. has a one year low of $47.11 and a one year high of $96.81. The firm has a market cap of $9.19 billion, a PE ratio of 15.68 and a beta of 1.00. The firm’s fifty day moving average is $81.57 and its two-hundred day moving average is $75.78.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, December 6th. Mueller Industries’s dividend payout ratio is presently 15.53%.

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.