Meiji Yasuda Asset Management Co Ltd. Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,775 shares of the industrial products company’s stock, valued at approximately $220,000.

Other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC bought a new position in shares of Mueller Industries during the fourth quarter valued at $201,376,000. Allianz Asset Management GmbH increased its position in shares of Mueller Industries by 135.7% during the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock worth $40,341,000 after purchasing an additional 292,697 shares in the last quarter. Four Tree Island Advisory LLC bought a new position in Mueller Industries during the 4th quarter valued at about $19,376,000. Caisse DE Depot ET Placement DU Quebec boosted its position in Mueller Industries by 77.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock valued at $29,152,000 after buying an additional 171,671 shares in the last quarter. Finally, Barclays PLC grew its stake in Mueller Industries by 343.9% during the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock worth $14,613,000 after buying an additional 152,780 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Mueller Industries stock opened at $76.58 on Friday. The business’s fifty day moving average is $79.92 and its two-hundred day moving average is $79.63. The firm has a market cap of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (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 was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded 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

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