Meritage Portfolio Management Grows Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Meritage Portfolio Management grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 297.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,938 shares of the industrial products company’s stock after buying an additional 15,673 shares during the quarter. Meritage Portfolio Management’s holdings in Mueller Industries were worth $987,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MLI. Fifth Third Bancorp grew its stake in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares during the period. Larson Financial Group LLC boosted its position in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 299 shares during the period. Beaird Harris Wealth Management LLC purchased a new stake in Mueller Industries during the 3rd quarter worth $30,000. Adirondack Trust Co. acquired a new position in Mueller Industries in the 3rd quarter worth $45,000. Finally, Versant Capital Management Inc lifted its holdings in Mueller Industries by 100.0% in the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after buying an additional 487 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded down $1.03 during trading on Friday, reaching $57.38. The company had a trading volume of 275,782 shares, compared to its average volume of 680,465. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 11.70 and a beta of 1.08. The firm’s fifty day moving average is $52.13 and its 200-day moving average is $46.78. Mueller Industries, Inc. has a fifty-two week low of $34.08 and a fifty-two week high of $59.59.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The business had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is currently 16.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the transaction, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The disclosure for this sale can be found here. Insiders sold a total of 56,280 shares of company stock valued at $2,804,350 in the last quarter. Insiders own 2.80% of the company’s stock.

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.