Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Raised by Everence Capital Management Inc.

Everence Capital Management Inc. raised its stake in Mueller Industries, Inc. (NYSE:MLI) by 100.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,000 shares of the industrial products company’s stock after purchasing an additional 8,500 shares during the period. Everence Capital Management Inc.’s holdings in Mueller Industries were worth $802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Metropolitan Life Insurance Co NY increased its position in shares of Mueller Industries by 4.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,439 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 144 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Mueller Industries by 3.6% in the 2nd quarter. Captrust Financial Advisors now owns 5,101 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 175 shares during the last quarter. MML Investors Services LLC grew its position in shares of Mueller Industries by 6.3% during the 2nd quarter. MML Investors Services LLC now owns 3,898 shares of the industrial products company’s stock valued at $340,000 after buying an additional 230 shares during the last quarter. Lido Advisors LLC grew its position in shares of Mueller Industries by 4.0% during the 1st quarter. Lido Advisors LLC now owns 6,427 shares of the industrial products company’s stock valued at $472,000 after buying an additional 249 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Mueller Industries by 0.7% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 36,977 shares of the industrial products company’s stock valued at $2,717,000 after buying an additional 265 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 0.2 %

Mueller Industries stock opened at $51.96 on Thursday. The firm has a 50-day moving average price of $51.59 and a two-hundred day moving average price of $46.15. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 9.78 and a beta of 1.08. Mueller Industries, Inc. has a 52-week low of $33.59 and a 52-week high of $54.64.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s payout ratio is presently 15.05%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MLI. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $887,940. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $887,940. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.