Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. increased its position in Mueller Industries, Inc. (NYSE:MLI) by 304.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,084 shares of the industrial products company’s stock after acquiring an additional 6,084 shares during the period. Flputnam Investment Management Co.’s holdings in Mueller Industries were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Fiera Capital Corp purchased a new position in shares of Mueller Industries in the third quarter worth about $35,552,000. Charles Schwab Investment Management Inc. increased its holdings in Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after buying an additional 315,490 shares during the period. Allianz Asset Management GmbH raised its position in Mueller Industries by 135.7% during the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock worth $40,341,000 after buying an additional 292,697 shares during the last quarter. Four Tree Island Advisory LLC acquired a new stake in Mueller Industries during the 4th quarter valued at approximately $19,376,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Mueller Industries by 77.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock valued at $29,152,000 after acquiring an additional 171,671 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

Mueller Industries Stock Down 0.9 %

Shares of MLI stock opened at $79.48 on Tuesday. Mueller Industries, Inc. has a 52-week low of $49.95 and a 52-week high of $96.81. The stock has a market cap of $9.00 billion, a PE ratio of 14.97 and a beta of 0.98. The business has a 50-day simple moving average of $80.18 and a 200-day simple moving average of $78.41.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.