Kendall Capital Management Has $768,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Kendall Capital Management reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,680 shares of the industrial products company’s stock after selling 1,095 shares during the period. Kendall Capital Management’s holdings in Mueller Industries were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MLI. State Street Corp boosted its position in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after buying an additional 315,490 shares in the last quarter. FMR LLC boosted its position in Mueller Industries by 2.6% in the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after buying an additional 27,399 shares in the last quarter. Systematic Financial Management LP boosted its position in Mueller Industries by 1.6% in the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock valued at $69,605,000 after buying an additional 14,729 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Mueller Industries by 135.7% in the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after buying an additional 292,697 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 3.3 %

Shares of MLI stock opened at $82.17 on Friday. Mueller Industries, Inc. has a 1 year low of $50.84 and a 1 year high of $96.81. The firm’s 50 day moving average is $80.14 and its 200-day moving average is $78.66. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.47 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares of the company’s stock, valued at $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 available at this link. 2.80% of the stock is owned by company insiders.

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.