International Assets Investment Management LLC Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

International Assets Investment Management LLC raised its stake in Mueller Industries, Inc. (NYSE:MLI) by 9,366.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,678 shares of the industrial products company’s stock after acquiring an additional 21,449 shares during the quarter. International Assets Investment Management LLC’s holdings in Mueller Industries were worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MLI. Pacer Advisors Inc. grew its holdings in Mueller Industries by 194.4% during the fourth 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. Allspring Global Investments Holdings LLC grew its stake in shares of Mueller Industries by 3.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,640,071 shares of the industrial products company’s stock worth $198,428,000 after acquiring an additional 99,633 shares during the period. Gates Capital Management Inc. increased its holdings in Mueller Industries by 53.4% in the 3rd quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock worth $89,947,000 after acquiring an additional 416,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Mueller Industries by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,156 shares of the industrial products company’s stock valued at $44,882,000 after acquiring an additional 36,646 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Mueller Industries by 4.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 401,900 shares of the industrial products company’s stock valued at $30,195,000 after purchasing an additional 18,500 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

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

Mueller Industries Stock Up 2.3 %

Shares of NYSE MLI opened at $53.50 on Tuesday. The company has a market cap of $6.08 billion, a P/E ratio of 10.07 and a beta of 1.08. Mueller Industries, Inc. has a 52 week low of $34.08 and a 52 week high of $54.64. The business has a 50-day simple moving average of $51.76 and a two-hundred day simple moving average of $46.56.

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

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is presently 15.05%.

Wall Street Analyst Weigh In

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

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.