Wedge Capital Management L L P NC Has $13.05 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Wedge Capital Management L L P NC boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 66.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 276,739 shares of the industrial products company’s stock after acquiring an additional 110,602 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Mueller Industries were worth $13,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC acquired a new position in Mueller Industries during the 3rd quarter worth $30,000. Fifth Third Bancorp grew its holdings in Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Adirondack Trust Co. bought a new position in shares of Mueller Industries in the 3rd quarter worth $45,000. NBC Securities Inc. acquired a new stake in shares of Mueller Industries in the 3rd quarter valued at approximately $52,000. Finally, Versant Capital Management Inc boosted its position in Mueller Industries by 100.0% during the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 487 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 6.0 %

Shares of NYSE MLI traded up $3.21 during trading on Tuesday, reaching $56.75. The company had a trading volume of 118,735 shares, compared to its average volume of 652,643. The company’s fifty day moving average price is $51.76 and its 200-day moving average price is $46.56. Mueller Industries, Inc. has a 12 month low of $34.08 and a 12 month high of $56.79. The stock has a market cap of $6.45 billion, a P/E ratio of 10.07 and a beta of 1.08.

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

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. Mueller Industries’s payout ratio is presently 15.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Insider Activity at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares in the company, valued at $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 5,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate 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.