Natixis Advisors LLC Sells 14,679 Shares of Mueller Industries, Inc. (NYSE:MLI)

Natixis Advisors LLC lowered its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,674 shares of the industrial products company’s stock after selling 14,679 shares during the period. Natixis Advisors LLC’s holdings in Mueller Industries were worth $1,641,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC grew its stake in shares of Mueller Industries by 107,875.0% in the 3rd quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock valued at $320,000 after purchasing an additional 4,315 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Mueller Industries in the third quarter valued at $1,922,000. Massachusetts Financial Services Co. MA raised its stake in Mueller Industries by 3.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 102,417 shares of the industrial products company’s stock worth $7,589,000 after acquiring an additional 3,497 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after acquiring an additional 315,490 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Mueller Industries by 48.1% in the 3rd quarter. Citigroup Inc. now owns 147,833 shares of the industrial products company’s stock valued at $10,954,000 after purchasing an additional 48,045 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Mueller Industries Price Performance

Shares of MLI opened at $79.46 on Tuesday. The company has a market capitalization of $9.00 billion, a P/E ratio of 14.96 and a beta of 0.99. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The business’s 50 day simple moving average is $80.19 and its 200-day simple moving average is $79.48.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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. The ex-dividend date is Friday, March 14th. 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 dividend yield of 1.26%. Mueller Industries’s payout ratio is currently 18.83%.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

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.