Fox Run Management L.L.C. Invests $670,000 in Mueller Industries, Inc. (NYSE:MLI)

Fox Run Management L.L.C. purchased a new stake in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,439 shares of the industrial products company’s stock, valued at approximately $670,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position 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 worth $329,830,000 after purchasing an additional 139,406 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $300,000. Merit Financial Group LLC acquired a new position in Mueller Industries during the fourth quarter worth $287,000. Rhumbline Advisers raised its position in Mueller Industries by 13.7% in the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock worth $28,895,000 after acquiring an additional 43,893 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Mueller Industries by 3.0% in the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock valued at $1,451,000 after acquiring an additional 537 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

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

Mueller Industries Trading Up 2.9 %

MLI stock opened at $79.46 on Tuesday. The firm has a 50 day moving average of $80.19 and a 200-day moving average of $79.48. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 14.96 and a beta of 0.99. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81.

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 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is 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.