Diametric Capital LP Has $260,000 Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Diametric Capital LP reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 55.8% in the 4th quarter, HoldingsChannel reports. The firm owned 3,281 shares of the industrial products company’s stock after selling 4,144 shares during the period. Diametric Capital LP’s holdings in Mueller Industries were worth $260,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. Arizona State Retirement System lifted its position in shares of Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after buying an additional 170 shares during the last quarter. CIBC Asset Management Inc raised its stake in Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 174 shares during the period. Caprock Group LLC lifted its holdings in Mueller Industries by 2.3% during the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after purchasing an additional 194 shares during the last quarter. Kestra Investment Management LLC boosted its position in Mueller Industries by 7.7% during the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 218 shares during the period. Finally, Addison Capital Co increased its holdings in shares of Mueller Industries by 0.5% in the fourth quarter. Addison Capital Co now owns 51,325 shares of the industrial products company’s stock valued at $4,073,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 1.8 %

Mueller Industries stock opened at $77.54 on Wednesday. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 14.60 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81. The stock’s 50 day moving average is $79.70 and its 200-day moving average is $79.91.

Mueller Industries (NYSE:MLI) last issued 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.29%. Mueller Industries’s payout ratio is 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 target price for the company in a 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.