MeadowBrook Investment Advisors LLC Purchases New Holdings in Mueller Industries, Inc. (NYSE:MLI)

MeadowBrook Investment Advisors LLC purchased a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,645 shares of the industrial products company’s stock, valued at approximately $313,000.

Several other large investors have also bought and sold shares of the company. Raymond James & Associates boosted its position in Mueller Industries by 9.8% in the third quarter. Raymond James & Associates now owns 31,023 shares of the industrial products company’s stock worth $2,332,000 after purchasing an additional 2,763 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Mueller Industries by 15.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,833 shares of the industrial products company’s stock worth $739,000 after buying an additional 1,322 shares during the last quarter. Strs Ohio boosted its stake in shares of Mueller Industries by 34.8% during the 3rd quarter. Strs Ohio now owns 18,600 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 4,800 shares during the period. Yorktown Management & Research Co Inc grew its stake in shares of Mueller Industries by 15.7% during the third quarter. Yorktown Management & Research Co Inc now owns 19,900 shares of the industrial products company’s stock valued at $1,496,000 after buying an additional 2,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mueller Industries by 8.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,685 shares of the industrial products company’s stock worth $24,328,000 after purchasing an additional 25,599 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,716 shares of company stock worth $5,806,311. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MLI shares. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Mueller Industries Price Performance

NYSE:MLI traded up $0.97 during trading hours on Tuesday, reaching $58.97. The company had a trading volume of 90,404 shares, compared to its average volume of 672,798. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $59.59. The business’s 50 day moving average price is $53.40 and its 200-day moving average price is $47.76. The firm has a market cap of $6.70 billion, a PE ratio of 11.63 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The firm had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. Mueller Industries’s payout ratio is 16.03%.

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.