Park Avenue Securities LLC Has $323,000 Stake in Mueller Industries, Inc. (NYSE:MLI)

Park Avenue Securities LLC lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 19.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,071 shares of the industrial products company’s stock after acquiring an additional 652 shares during the period. Park Avenue Securities LLC’s holdings in Mueller Industries were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MLI. Renaissance Technologies LLC grew its stake in Mueller Industries by 270.7% in the second 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 period. Hsbc Holdings PLC lifted its holdings in shares of Mueller Industries by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after purchasing an additional 233 shares in the last quarter. Sei Investments Co. grew its position in Mueller Industries by 36.2% in the 2nd quarter. Sei Investments Co. now owns 132,970 shares of the industrial products company’s stock valued at $7,571,000 after purchasing an additional 35,306 shares during the period. Bank of Montreal Can increased its stake in Mueller Industries by 163.6% during the 2nd quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock valued at $6,790,000 after purchasing an additional 73,567 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Mueller Industries by 4.4% during the second quarter. Xponance Inc. now owns 7,123 shares of the industrial products company’s stock worth $406,000 after buying an additional 302 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Mueller Industries Stock Performance

Shares of MLI opened at $80.78 on Friday. The firm has a market capitalization of $9.19 billion, a P/E ratio of 15.68 and a beta of 1.00. Mueller Industries, Inc. has a 52 week low of $47.11 and a 52 week high of $96.81. The stock has a 50 day moving average price of $81.57 and a two-hundred day moving average price of $75.78.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.99%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

Insider Activity at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

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.