Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Raised by Ingalls & Snyder LLC

Ingalls & Snyder LLC lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the industrial products company’s stock after buying an additional 2,850 shares during the period. Ingalls & Snyder LLC’s holdings in Mueller Industries were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in Mueller Industries by 90.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock valued at $237,633,000 after purchasing an additional 2,399,862 shares during the period. First Trust Advisors LP boosted its stake in Mueller Industries by 284.1% during the 1st quarter. First Trust Advisors LP now owns 2,701,964 shares of the industrial products company’s stock valued at $198,540,000 after purchasing an additional 1,998,534 shares during the period. Pacer Advisors Inc. boosted its stake in Mueller Industries by 194.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock valued at $135,938,000 after purchasing an additional 1,903,745 shares during the period. Norges Bank acquired a new position in Mueller Industries during the 4th quarter valued at about $39,197,000. Finally, Envestnet Asset Management Inc. raised its holdings in Mueller Industries by 1,084.7% during the first quarter. Envestnet Asset Management Inc. now owns 671,768 shares of the industrial products company’s stock worth $4,010,000 after purchasing an additional 615,064 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at approximately $887,940. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Trading Down 1.0 %

MLI stock opened at $51.72 on Monday. Mueller Industries, Inc. has a one year low of $33.59 and a one year high of $54.64. The firm has a market capitalization of $5.88 billion, a PE ratio of 9.73 and a beta of 1.08. The firm has a 50-day moving average of $51.38 and a two-hundred day moving average of $45.91.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%. The company had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. Mueller Industries’s dividend payout ratio is currently 15.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MLI shares. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

About Mueller Industries

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.