19 hours Ago By ABMN Staff
LPL Financial LLC grew its stake in Mueller Industries, Inc. ( NYSE:MLI – Free Report ) by 59.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission.
The institutional investor owned 161,041 shares of the industrial products company’s stock after purchasing an additional 60,354 shares during the period. LPL Financial LLC’s holdings in Mueller Industries were worth $12,780,000 as of its most recent filing with the Securities and Exchange Commission. Several other hedge funds and other institutional investors also recently made changes to their positions in MLI.
Fox Run Management L.L.C.
acquired a new stake in Mueller Industries in the fourth quarter valued at approximately $670,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Mueller Industries during the 4th quarter valued at $2,286,000. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Mueller Industries by 167.
6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 6,978 shares of the industrial products company’s stock valued at $554,000 after acquiring an additional 4,370 shares in the last quarter. AXQ Capital LP bought a new stake in Mueller Industries during the 4th quarter worth $244,000.
Finally, Virtu Financial LLC increased its holdings in Mueller Industries by 148.8% in the 4th quarter. Virtu Financial LLC now owns 9,350 shares of the industrial products company’s stock worth $742,000 after purchasing an additional 5,592 shares in the last quarter.
94.50% of the stock is owned by institutional investors. Wall Street Analysts Forecast Growth 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 NYSE:MLI opened at $79.49 on Thursday.
The firm has a market cap of $9.00 billion, a PE ratio of 14.97 and a beta of 0.
99. Mueller Industries, Inc. has a 52 week low of $50.
85 and a 52 week high of $96.81. The firm’s fifty day moving average is $79.
66 and its 200-day moving average is $79.91. Mueller Industries ( NYSE:MLI – Get Free Report ) last issued its quarterly earnings results on Tuesday, February 4th.
The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.
25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.
00 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.
20. Mueller Industries’s payout ratio is 18.83%.
Insider Activity In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.
00. Following the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38.
This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website .
Insiders own 2.80% of the company’s stock. Mueller Industries Company Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Mueller Industries, Inc. ( NYSE:MLI – Free Report ). Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.
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