Parkside Financial Bank & Trust Acquires 466 Shares of Mueller Industries, Inc. (NYSE:MLI)

Parkside Financial Bank & Trust boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 51.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,373 shares of the industrial products company’s stock after purchasing an additional 466 shares during the period. Parkside Financial Bank & Trust’s holdings in Mueller Industries were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp boosted 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 valued at $25,000 after acquiring an additional 292 shares during the period. Larson Financial Group LLC raised its holdings in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares during the last quarter. Beaird Harris Wealth Management LLC bought a new stake in Mueller Industries in the 3rd quarter worth $30,000. Adirondack Trust Co. bought a new stake in Mueller Industries in the 3rd quarter worth $45,000. Finally, Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 487 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John B. Hansen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total value of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’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 value 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 approximately $18,263,870. The disclosure for this sale can be found here. Insiders have sold a total of 56,280 shares of company stock valued at $2,804,350 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.8 %

Shares of NYSE MLI opened at $58.40 on Friday. The firm has a fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $46.78. Mueller Industries, Inc. has a 12 month low of $34.08 and a 12 month high of $59.59. The firm has a market capitalization of $6.63 billion, a PE ratio of 11.70 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The company had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. Mueller Industries’s payout ratio is currently 16.03%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MLI shares. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.

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.