Premier Fund Managers Ltd Decreases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Premier Fund Managers Ltd reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,850 shares of the industrial products company’s stock after selling 950 shares during the quarter. Premier Fund Managers Ltd owned about 0.06% of Mueller Industries worth $5,574,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC acquired a new stake in Mueller Industries during the 4th quarter valued at approximately $32,000. Westside Investment Management Inc. purchased a new stake in shares of Mueller Industries in the 3rd quarter valued at approximately $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Mueller Industries in the fourth quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries during the 4th quarter valued at about $53,000. Finally, City State Bank acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $58,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

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

Mueller Industries Price Performance

Shares of NYSE MLI opened at $77.57 on Friday. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 14.61 and a beta of 0.99. The business has a 50-day moving average of $80.03 and a 200-day moving average of $79.56.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate 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. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

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.