Van ECK Associates Corp Purchases 21,175 Shares of Mueller Industries, Inc. (NYSE:MLI)

Van ECK Associates Corp lifted its position in Mueller Industries, Inc. (NYSE:MLI) by 159.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,473 shares of the industrial products company’s stock after buying an additional 21,175 shares during the quarter. Van ECK Associates Corp’s holdings in Mueller Industries were worth $1,625,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MLI. Chase Investment Counsel Corp acquired a new stake in Mueller Industries in the 4th quarter worth approximately $1,131,000. SummerHaven Investment Management LLC lifted its holdings in Mueller Industries by 103.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 16,423 shares of the industrial products company’s stock worth $774,000 after purchasing an additional 8,334 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Mueller Industries by 123.6% in the 4th quarter. Russell Investments Group Ltd. now owns 38,627 shares of the industrial products company’s stock worth $1,821,000 after purchasing an additional 21,350 shares during the last quarter. Truist Financial Corp lifted its holdings in Mueller Industries by 102.6% in the 4th quarter. Truist Financial Corp now owns 15,142 shares of the industrial products company’s stock worth $714,000 after purchasing an additional 7,668 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC acquired a new stake in Mueller Industries in the 4th quarter worth approximately $368,000. Institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $57.25, for a total value of $3,001,961.00. Following the completion of the transaction, the chief financial officer now directly owns 313,529 shares in the company, valued at $17,949,535.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $57.25, for a total value of $3,001,961.00. Following the completion of the transaction, the chief financial officer now directly owns 313,529 shares in the company, valued at $17,949,535.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the transaction, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MLI shares. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Mueller Industries Stock Up 0.9 %

Shares of MLI stock opened at $58.86 on Friday. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $59.59. The firm has a market cap of $6.69 billion, a PE ratio of 11.80 and a beta of 1.08. The stock has a 50 day moving average of $53.84 and a 200-day moving average of $47.83.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results 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 return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is presently 16.03%.

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.