Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,611 shares of the industrial products company’s stock after purchasing an additional 2,437 shares during the period. Advisors Asset Management Inc.’s holdings in Mueller Industries were worth $3,064,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its stake in shares of Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Mueller Industries during the 4th quarter worth approximately $300,000. Merit Financial Group LLC purchased a new position in shares of Mueller Industries during the 4th quarter worth approximately $287,000. Rhumbline Advisers increased its stake in shares of Mueller Industries by 13.7% during the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock worth $28,895,000 after purchasing an additional 43,893 shares in the last quarter. Finally, US Bancorp DE grew its stake in Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock worth $1,451,000 after acquiring an additional 537 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

MLI stock opened at $77.34 on Friday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 14.56 and a beta of 0.99. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The company has a 50 day moving average price of $80.18 and a two-hundred day moving average price of $79.24.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is 18.83%.

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.