Everence Capital Management Inc. Sells 14,130 Shares of Mueller Industries, Inc. (NYSE:MLI)

Everence Capital Management Inc. cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 83.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,870 shares of the industrial products company’s stock after selling 14,130 shares during the quarter. Everence Capital Management Inc.’s holdings in Mueller Industries were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its position in shares of Mueller Industries by 1.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 50,359 shares of the industrial products company’s stock worth $2,867,000 after buying an additional 795 shares during the last quarter. TD Asset Management Inc lifted its stake in Mueller Industries by 12.8% in the second quarter. TD Asset Management Inc now owns 121,500 shares of the industrial products company’s stock worth $6,918,000 after acquiring an additional 13,800 shares during the period. Arizona State Retirement System boosted its holdings in Mueller Industries by 2.0% in the second quarter. Arizona State Retirement System now owns 30,222 shares of the industrial products company’s stock valued at $1,721,000 after acquiring an additional 584 shares in the last quarter. Caprock Group LLC purchased a new position in Mueller Industries during the 2nd quarter valued at $473,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Mueller Industries in the 2nd quarter worth $183,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Wednesday, December 11th.

Mueller Industries Stock Up 0.7 %

MLI opened at $79.71 on Thursday. Mueller Industries, Inc. has a 52 week low of $44.39 and a 52 week high of $96.81. The stock has a market cap of $9.07 billion, a PE ratio of 15.48 and a beta of 1.00. The business has a 50 day moving average of $83.60 and a 200-day moving average of $73.74.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.