Sterling Capital Management LLC Grows Stake in Mueller Industries, Inc. (NYSE:MLI)

Sterling Capital Management LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 10,891 shares of the industrial products company’s stock after buying an additional 240 shares during the quarter. Sterling Capital Management LLC’s holdings in Mueller Industries were worth $864,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MLI. Capital Fund Management S.A. grew its stake in Mueller Industries by 84.6% in the 4th quarter. Capital Fund Management S.A. now owns 25,822 shares of the industrial products company’s stock valued at $2,049,000 after acquiring an additional 11,836 shares during the last quarter. Scotia Capital Inc. increased its stake in shares of Mueller Industries by 11.1% during the 4th quarter. Scotia Capital Inc. now owns 9,074 shares of the industrial products company’s stock worth $720,000 after purchasing an additional 906 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Mueller Industries during the 4th quarter worth approximately $6,855,000. Texas Yale Capital Corp. raised its position in shares of Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in Mueller Industries by 9.6% during the 4th quarter. Advisory Services Network LLC now owns 13,394 shares of the industrial products company’s stock valued at $1,063,000 after buying an additional 1,174 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.

Mueller Industries Stock Performance

Mueller Industries stock opened at $71.03 on Thursday. Mueller Industries, Inc. has a fifty-two week low of $51.81 and a fifty-two week high of $96.81. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 13.38 and a beta of 0.96. The stock has a fifty day moving average of $77.93 and a two-hundred day moving average of $79.85.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently disclosed 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 is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. 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.