Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 1.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,184 shares of the industrial products company’s stock after purchasing an additional 685 shares during the period. Insight Wealth Strategies LLC’s holdings in Mueller Industries were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Kapitalo Investimentos Ltda increased its stake in shares of Mueller Industries by 3.5% in the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC increased its stake in shares of Mueller Industries by 5.3% in the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 192 shares during the period. Hsbc Holdings PLC increased its stake in shares of Mueller Industries by 1.8% in the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after purchasing an additional 233 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Mueller Industries by 4.4% during the second quarter. Xponance Inc. now owns 7,123 shares of the industrial products company’s stock valued at $406,000 after buying an additional 302 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Trading Up 0.0 %

MLI traded up $0.02 on Monday, reaching $80.76. The company had a trading volume of 204,744 shares, compared to its average volume of 428,607. The company has a market capitalization of $9.19 billion, a P/E ratio of 15.68 and a beta of 1.00. The company has a fifty day moving average of $83.78 and a 200-day moving average of $73.35. Mueller Industries, Inc. has a one year low of $44.39 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

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

Insider Transactions at Mueller Industries

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

Analysts Set New Price Targets

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

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.