7,616 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,616 shares of the industrial products company’s stock, valued at approximately $604,000.

Several other large investors also recently modified their holdings of MLI. State Street Corp boosted its stake in Mueller Industries by 3.2% in 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 buying an additional 139,406 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock valued at $214,763,000 after purchasing an additional 117,327 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Mueller Industries in the 4th quarter worth about $201,376,000. Norges Bank acquired a new stake in shares of Mueller Industries during the 4th quarter worth about $117,351,000. Finally, FMR LLC lifted its holdings in Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after purchasing an additional 27,399 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of MLI stock opened at $79.49 on Thursday. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The stock has a market capitalization of $9.00 billion, a PE ratio of 14.97 and a beta of 0.99. The stock’s fifty day moving average is $79.66 and its 200-day moving average is $79.91.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.25 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.26%. Mueller Industries’s dividend payout ratio is currently 18.83%.

Insider Buying and Selling at Mueller Industries

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

Analysts Set New Price Targets

Separately, Northcoast Research raised shares of 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 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.