Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Increased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 135.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508,333 shares of the industrial products company’s stock after buying an additional 292,697 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.45% of Mueller Industries worth $40,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLI. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries during the third quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter valued at approximately $53,000. City State Bank acquired a new position in Mueller Industries in the fourth quarter valued at approximately $58,000. Harbor Capital Advisors Inc. acquired a new position in Mueller Industries in the third quarter valued at approximately $64,000. Finally, GAMMA Investing LLC grew its holdings in shares of Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Down 2.7 %

MLI stock opened at $78.41 on Monday. The firm’s 50-day simple moving average is $80.31 and its 200 day simple moving average is $77.90. The stock has a market cap of $8.92 billion, a PE ratio of 14.77 and a beta of 0.98. Mueller Industries, Inc. has a fifty-two week low of $47.46 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Mueller Industries’s dividend payout ratio is presently 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised 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.

Insider Activity

In related 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 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

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.