Quantbot Technologies LP Purchases Shares of 27,645 Mueller Industries, Inc. (NYSE:MLI)

Quantbot Technologies LP acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, Holdings Channel.com reports. The fund acquired 27,645 shares of the industrial products company’s stock, valued at approximately $2,194,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Mueller Industries by 3.2% during 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. Flagship Harbor Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth approximately $300,000. Merit Financial Group LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth approximately $287,000. Rhumbline Advisers lifted its position in shares of Mueller Industries by 13.7% during the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock worth $28,895,000 after purchasing an additional 43,893 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Mueller Industries by 3.0% during the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock worth $1,451,000 after purchasing an additional 537 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred 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 $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded shares of 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 Trading Down 2.8 %

Shares of MLI stock opened at $77.34 on Monday. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81. The firm’s 50 day moving average is $80.18 and its 200-day moving average is $79.39. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.56 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 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.