Mueller Industries, Inc. (NYSE:MLI) Holdings Lifted by Raymond James & Associates

Raymond James & Associates boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 99.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 61,800 shares of the industrial products company’s stock after buying an additional 30,777 shares during the period. Raymond James & Associates’ holdings in Mueller Industries were worth $2,914,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. HighTower Advisors LLC boosted its position in shares of Mueller Industries by 18.7% in the 1st quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 693 shares during the period. Citigroup Inc. boosted its position in shares of Mueller Industries by 9.4% in the 1st quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock valued at $2,700,000 after purchasing an additional 4,289 shares during the period. Natixis Advisors L.P. boosted its position in shares of Mueller Industries by 18.1% in the 1st quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 1,826 shares during the period. Acadian Asset Management LLC boosted its position in shares of Mueller Industries by 607.0% in the 1st quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 10,259 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Mueller Industries by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 29,895 shares of the industrial products company’s stock valued at $1,619,000 after purchasing an additional 10,408 shares during the period. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 1.0 %

Shares of Mueller Industries stock opened at $51.72 on Monday. The stock has a 50-day moving average price of $51.38 and a 200 day moving average price of $45.91. The company has a market cap of $5.88 billion, a P/E ratio of 9.74 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $33.59 and a 1 year high of $54.64.

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

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 paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. Mueller Industries’s dividend payout ratio (DPR) is 15.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in 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 Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.

Insider Transactions at Mueller Industries

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

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.