Premier Fund Managers Ltd Sells 950 Shares of Mueller Industries, Inc. (NYSE:MLI)

Premier Fund Managers Ltd lowered its position in Mueller Industries, Inc. (NYSE:MLI) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,850 shares of the industrial products company’s stock after selling 950 shares during the period. Premier Fund Managers Ltd’s holdings in Mueller Industries were worth $5,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. State Street Corp increased its stake in shares of Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares in the last quarter. William Blair Investment Management LLC bought a new position in Mueller Industries in the fourth quarter worth approximately $201,376,000. Norges Bank bought a new stake in Mueller Industries during the fourth quarter valued at about $117,351,000. FMR LLC raised its stake in shares of Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after acquiring an additional 27,399 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Mueller Industries by 1.6% in the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock worth $69,605,000 after purchasing an additional 14,729 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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 target price for the company in a report on Wednesday, December 11th.

Mueller Industries Price Performance

NYSE:MLI opened at $77.57 on Friday. The firm has a market capitalization of $8.79 billion, a PE ratio of 14.61 and a beta of 0.99. The business’s fifty day moving average price is $80.03 and its 200 day moving average price is $79.56. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

About Mueller Industries

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.