Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Barnett & Company Inc.

Barnett & Company Inc. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,075 shares of the industrial products company’s stock after selling 875 shares during the quarter. Barnett & Company Inc.’s holdings in Mueller Industries were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. purchased a new position in Mueller Industries during the third quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries during the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $53,000. City State Bank purchased a new stake in shares of Mueller Industries in the fourth quarter valued at about $58,000. Finally, GAMMA Investing LLC increased its position in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 258 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Down 2.8 %

MLI stock opened at $77.34 on Monday. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 14.56 and a beta of 0.99. The business has a fifty day moving average of $80.18 and a two-hundred day moving average of $79.39.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data 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 return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.25 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. Mueller Industries’s payout ratio is presently 18.83%.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were 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. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.