Gallacher Capital Management LLC Raises Holdings in Mueller Industries, Inc. (NYSE:MLI)

Gallacher Capital Management LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 96.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,867 shares of the industrial products company’s stock after purchasing an additional 4,364 shares during the period. Gallacher Capital Management LLC’s holdings in Mueller Industries were worth $418,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in Mueller Industries by 124.3% in 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 lifted its stake in shares of Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 299 shares during the period. Beaird Harris Wealth Management LLC purchased a new stake in Mueller Industries in the 3rd quarter valued at approximately $30,000. Adirondack Trust Co. purchased a new stake in Mueller Industries in the 3rd quarter valued at approximately $45,000. Finally, Versant Capital Management Inc raised its stake in shares of Mueller Industries by 100.0% during the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after buying an additional 487 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction that occurred on 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 $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now directly owns 104,214 shares in the company, valued at approximately $5,970,420.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following 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. In the last three months, insiders sold 108,716 shares of company stock worth $5,806,311. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

MLI stock traded up $1.19 on Monday, reaching $58.00. The company had a trading volume of 442,658 shares, compared to its average volume of 677,874. The company’s fifty day moving average is $53.25 and its 200 day moving average is $47.85. The company has a market cap of $6.59 billion, a P/E ratio of 11.38 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $59.59.

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

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, March 14th. Mueller Industries’s payout ratio is presently 16.03%.

Wall Street Analysts Forecast Growth

MLI has been the topic of a number of recent analyst reports. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Mueller Industries 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.