BankPlus Trust Department Buys Shares of 4,521 Mueller Industries, Inc. (NYSE:MLI)

BankPlus Trust Department bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,521 shares of the industrial products company’s stock, valued at approximately $359,000.

Other large investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its stake in Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares during the period. State Street Corp raised its stake in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. Farther Finance Advisors LLC raised its stake in Mueller Industries by 1,322.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 7,843 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Mueller Industries during the 4th quarter valued at $300,000. Finally, Merit Financial Group LLC acquired a new position in shares of Mueller Industries in the fourth quarter worth $287,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Wednesday, December 11th.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $79.66 on Tuesday. The business has a 50 day simple moving average of $80.22 and a 200 day simple moving average of $77.99. Mueller Industries, Inc. has a 52 week low of $49.10 and a 52 week high of $96.81. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 15.00 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last posted 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 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is 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 stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

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.