Sanctuary Advisors LLC Acquires 263 Shares of Mueller Industries, Inc. (NYSE:MLI)

Sanctuary Advisors LLC increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,636 shares of the industrial products company’s stock after purchasing an additional 263 shares during the quarter. Sanctuary Advisors LLC’s holdings in Mueller Industries were worth $1,092,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GM Advisory Group LLC grew its holdings in Mueller Industries by 5.3% during the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after buying an additional 192 shares in the last quarter. Caprock Group LLC lifted its stake in shares of Mueller Industries by 2.3% in the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after acquiring an additional 194 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 258 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Mueller Industries by 2.5% during the third quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 302 shares during the period. Finally, KBC Group NV increased its stake in shares of Mueller Industries by 12.9% during the third quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock valued at $206,000 after buying an additional 318 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $79.74 on Thursday. The company has a 50-day simple moving average of $80.20 and a two-hundred day simple moving average of $78.09. Mueller Industries, Inc. has a 52-week low of $49.95 and a 52-week high of $96.81. The stock has a market capitalization of $9.07 billion, a PE ratio of 15.02 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 18.83%.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.