Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Versor Investments LP

Versor Investments LP increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,800 shares of the industrial products company’s stock after purchasing an additional 700 shares during the quarter. Versor Investments LP’s holdings in Mueller Industries were worth $778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLI. Proficio Capital Partners LLC purchased a new position in Mueller Industries during the fourth quarter valued at approximately $1,738,000. Amalgamated Bank raised its position in Mueller Industries by 55.7% during the fourth quarter. Amalgamated Bank now owns 51,893 shares of the industrial products company’s stock valued at $4,118,000 after acquiring an additional 18,560 shares in the last quarter. BankPlus Trust Department purchased a new position in Mueller Industries during the fourth quarter valued at approximately $359,000. Navellier & Associates Inc. raised its position in Mueller Industries by 21.9% during the fourth quarter. Navellier & Associates Inc. now owns 17,753 shares of the industrial products company’s stock valued at $1,409,000 after acquiring an additional 3,190 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Mueller Industries by 135.7% during the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after acquiring an additional 292,697 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock opened at $80.18 on Friday. The stock has a market capitalization of $9.12 billion, a PE ratio of 15.10 and a beta of 0.98. Mueller Industries, Inc. has a 12 month low of $49.95 and a 12 month high of $96.81. The business has a 50 day simple moving average of $80.18 and a 200-day simple moving average of $78.18.

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, beating 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s payout ratio is presently 18.83%.

Insider Buying and Selling

In related 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.