Kendall Capital Management Sells 1,095 Shares of Mueller Industries, Inc. (NYSE:MLI)

Kendall Capital Management trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 10.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,680 shares of the industrial products company’s stock after selling 1,095 shares during the quarter. Kendall Capital Management’s holdings in Mueller Industries were worth $768,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new stake in Mueller Industries in the third quarter valued at approximately $41,000. SBI Securities Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at approximately $53,000. City State Bank bought a new stake in Mueller Industries in the fourth quarter valued at approximately $58,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Mueller Industries in the third quarter valued at approximately $64,000. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

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 research note on Wednesday, December 11th.

Mueller Industries Stock Up 3.3 %

Mueller Industries stock opened at $82.17 on Friday. The stock has a market capitalization of $9.31 billion, a PE ratio of 15.47 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $50.84 and a twelve month high of $96.81. The company has a 50 day moving average of $80.14 and a 200-day moving average of $78.66.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is 18.83%.

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.