870 Shares in Mueller Industries, Inc. (NYSE:MLI) Acquired by R Squared Ltd

R Squared Ltd bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 870 shares of the industrial products company’s stock, valued at approximately $69,000.

Several other hedge funds have also made changes to their positions in MLI. GAMMA Investing LLC raised its holdings in shares of Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares in the last quarter. Kapitalo Investimentos Ltda raised its holdings in shares of Mueller Industries by 3.5% in the 3rd 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 in the last quarter. GM Advisory Group LLC lifted its position in shares of Mueller Industries by 5.3% in the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 192 shares during the period. Atria Investments Inc boosted its stake in shares of Mueller Industries by 2.5% during the third quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 302 shares in the last quarter. Finally, KBC Group NV increased its holdings in Mueller Industries by 12.9% during the third quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock valued at $206,000 after buying an additional 318 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Mueller Industries Price Performance

MLI opened at $78.78 on Friday. The firm has a market capitalization of $8.96 billion, a PE ratio of 15.30 and a beta of 1.00. The business’s 50-day moving average is $80.48 and its two-hundred day moving average is $76.37. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, December 6th. Mueller Industries’s payout ratio is currently 15.53%.

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.