Integrated Quantitative Investments LLC Makes New $1.02 Million Investment in Mueller Industries, Inc. (NYSE:MLI)

Integrated Quantitative Investments LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,800 shares of the industrial products company’s stock, valued at approximately $1,016,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLI. State Street Corp lifted its stake in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after buying an additional 139,406 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 during the period. William Blair Investment Management LLC acquired a new stake in Mueller Industries in the 4th quarter worth $201,376,000. Norges Bank acquired a new position in shares of Mueller Industries during the fourth quarter valued at about $117,351,000. Finally, FMR LLC raised its holdings in Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after acquiring an additional 27,399 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’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 transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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 Stock Performance

Shares of NYSE MLI opened at $74.10 on Friday. The stock has a market cap of $8.39 billion, a PE ratio of 13.95 and a beta of 0.99. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The business has a fifty day moving average of $79.51 and a two-hundred day moving average of $79.87.

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, topping 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s dividend payout ratio is presently 18.83%.

About Mueller Industries

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.