Mueller Industries, Inc. (NYSE:MLI) Shares Bought by US Bancorp DE

US Bancorp DE boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,278 shares of the industrial products company’s stock after acquiring an additional 537 shares during the quarter. US Bancorp DE’s holdings in Mueller Industries were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MLI. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries during the 3rd quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mueller Industries in the 4th quarter valued at approximately $53,000. City State Bank purchased a new position in Mueller Industries during the fourth quarter worth $58,000. GAMMA Investing LLC increased its position in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after buying an additional 258 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Mueller Industries during the third quarter worth $64,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Mueller Industries Price Performance

NYSE:MLI opened at $82.17 on Friday. The business’s 50-day moving average is $80.14 and its two-hundred day moving average is $78.66. Mueller Industries, Inc. has a 12 month low of $50.84 and a 12 month high of $96.81. The firm has a market capitalization of $9.31 billion, a PE ratio of 15.47 and a beta of 0.99.

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

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.25 dividend. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s payout ratio is presently 18.83%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by insiders.

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.