Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Barnett & Company Inc.

Barnett & Company Inc. lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 13,075 shares of the industrial products company’s stock after selling 875 shares during the period. Barnett & Company Inc.’s holdings in Mueller Industries were worth $1,038,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Mueller Industries Price Performance

Shares of MLI opened at $77.34 on Monday. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81. The stock has a market cap of $8.76 billion, a PE ratio of 14.56 and a beta of 0.99. The firm has a fifty day moving average price of $80.18 and a 200 day moving average price of $79.39.

Mueller Industries (NYSE:MLI) last posted its 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 return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change 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 1.29%. Mueller Industries’s dividend payout ratio (DPR) is 18.83%.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.