Gallacher Capital Management LLC Makes New $209,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

Gallacher Capital Management LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, Holdings Channel reports. The firm acquired 2,631 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Catalyst Funds Management Pty Ltd lifted its stake in Mueller Industries by 451.7% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 32,000 shares of the industrial products company’s stock worth $2,540,000 after acquiring an additional 26,200 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of Mueller Industries by 19.1% during the 4th quarter. Picton Mahoney Asset Management now owns 6,254 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 1,004 shares during the last quarter. United Capital Management of KS Inc. grew its stake in shares of Mueller Industries by 2.0% during the fourth quarter. United Capital Management of KS Inc. now owns 82,156 shares of the industrial products company’s stock worth $6,520,000 after purchasing an additional 1,591 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Mueller Industries by 11.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 59,708 shares of the industrial products company’s stock valued at $4,738,000 after buying an additional 5,997 shares during the last quarter. Finally, Swiss National Bank raised its stake in Mueller Industries by 0.5% in the fourth quarter. Swiss National Bank now owns 211,800 shares of the industrial products company’s stock valued at $16,808,000 after buying an additional 1,000 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Trading Up 1.8 %

Shares of NYSE:MLI opened at $79.62 on Monday. The firm has a 50 day simple moving average of $80.15 and a 200-day simple moving average of $79.07. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The company has a market capitalization of $9.02 billion, a PE ratio of 14.99 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced 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 net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a 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 (DPR) is currently 18.83%.

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.