GAMMA Investing LLC Raises Stake in Mueller Industries, Inc. (NYSE:MLI)

GAMMA Investing LLC lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 46.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 810 shares of the industrial products company’s stock after purchasing an additional 258 shares during the period. GAMMA Investing LLC’s holdings in Mueller Industries were worth $64,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MLI. Choreo LLC acquired a new position in Mueller Industries during the second quarter worth about $367,000. BOKF NA raised its holdings in shares of Mueller Industries by 102.9% in the second quarter. BOKF NA now owns 14,517 shares of the industrial products company’s stock worth $827,000 after acquiring an additional 7,361 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Mueller Industries in the second quarter valued at $28,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Mueller Industries by 1,124.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock worth $5,633,000 after buying an additional 90,841 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Mueller Industries by 270.7% in the 2nd quarter. Renaissance Technologies LLC now owns 55,600 shares of the industrial products company’s stock valued at $3,166,000 after acquiring an additional 40,600 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 1.9 %

MLI stock opened at $78.28 on Monday. Mueller Industries, Inc. has a 12-month low of $44.39 and a 12-month high of $96.81. The company has a market cap of $8.90 billion, a PE ratio of 15.20 and a beta of 1.00. The stock has a 50-day moving average price of $83.49 and a two-hundred day moving average price of $74.17.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insider Activity

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

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

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.