Victory Capital Management Inc. Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Victory Capital Management Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 99.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,666,651 shares of the industrial products company’s stock after purchasing an additional 831,686 shares during the quarter. Victory Capital Management Inc.’s holdings in Mueller Industries were worth $78,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Mueller Industries by 90.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock valued at $237,633,000 after acquiring an additional 2,399,862 shares during the period. Pacer Advisors Inc. increased its position in shares of Mueller Industries by 194.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock worth $135,938,000 after purchasing an additional 1,903,745 shares in the last quarter. Gates Capital Management Inc. lifted its holdings in Mueller Industries by 53.4% in the 3rd quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock valued at $89,947,000 after purchasing an additional 416,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Mueller Industries by 98.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,872 shares of the industrial products company’s stock worth $30,359,000 after buying an additional 320,187 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Mueller Industries by 140.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 303,303 shares of the industrial products company’s stock worth $14,140,000 after acquiring an additional 177,133 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MLI. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Insider Activity at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares in the company, valued at $17,949,535.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the sale, the director now owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,716 shares of company stock worth $5,806,311. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Down 0.1 %

Shares of Mueller Industries stock opened at $56.81 on Friday. The firm’s 50 day moving average is $53.25 and its two-hundred day moving average is $47.69. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $59.59. The firm has a market capitalization of $6.45 billion, a P/E ratio of 11.38 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The firm had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s dividend payout ratio is 16.03%.

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.