Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,513 shares of the industrial products company’s stock after selling 5,100 shares during the period. Los Angeles Capital Management LLC’s holdings in Mueller Industries were worth $5,755,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. Amalgamated Bank boosted its stake in shares of Mueller Industries by 55.7% during the 4th quarter. Amalgamated Bank now owns 51,893 shares of the industrial products company’s stock worth $4,118,000 after acquiring an additional 18,560 shares in the last quarter. BankPlus Trust Department acquired a new position in Mueller Industries in the 4th quarter worth about $359,000. Navellier & Associates Inc. boosted its position in Mueller Industries by 21.9% during the fourth quarter. Navellier & Associates Inc. now owns 17,753 shares of the industrial products company’s stock worth $1,409,000 after purchasing an additional 3,190 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Mueller Industries by 135.7% in the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after purchasing an additional 292,697 shares during the period. Finally, WealthBridge Capital Management LLC increased its position in shares of Mueller Industries by 28.7% in the fourth quarter. WealthBridge Capital Management LLC now owns 4,135 shares of the industrial products company’s stock valued at $328,000 after buying an additional 923 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Northcoast Research upgraded 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.

Mueller Industries Stock Down 0.7 %

MLI opened at $79.74 on Thursday. The firm’s fifty day simple moving average is $80.20 and its two-hundred day simple moving average is $78.09. Mueller Industries, Inc. has a 52-week low of $49.95 and a 52-week high of $96.81. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 15.02 and a beta of 0.98.

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, 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 company 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. Mueller Industries’s payout ratio is currently 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is owned by company insiders.

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.