TradeLink Capital LLC Buys New Shares in Mueller Industries, Inc. (NYSE:MLI)

TradeLink Capital LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, HoldingsChannel reports. The fund bought 4,850 shares of the industrial products company’s stock, valued at approximately $385,000. Mueller Industries accounts for 3.8% of TradeLink Capital LLC’s portfolio, making the stock its 10th biggest position.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. Flagship Harbor Advisors LLC acquired a new position in Mueller Industries during the fourth quarter valued at approximately $300,000. Merit Financial Group LLC acquired a new position in Mueller Industries during the fourth quarter valued at approximately $287,000. Rhumbline Advisers lifted its position in Mueller Industries by 13.7% during the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock valued at $28,895,000 after buying an additional 43,893 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company’s stock valued at $16,081,000 after buying an additional 12,450 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Up 3.3 %

Shares of MLI stock opened at $82.17 on Friday. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 15.47 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $50.84 and a fifty-two week high of $96.81. The firm’s 50 day moving average price is $80.14 and its two-hundred day moving average price is $78.66.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.25 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s payout ratio is presently 18.83%.

Analysts Set New Price Targets

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

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries 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.