F M Investments LLC Has $6.38 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

F M Investments LLC cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 68.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,437 shares of the industrial products company’s stock after selling 171,042 shares during the period. F M Investments LLC’s holdings in Mueller Industries were worth $6,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MLI. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries in the 4th quarter valued at about $32,000. Westside Investment Management Inc. purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter valued at about $53,000. Finally, City State Bank acquired a new stake in Mueller Industries in the 4th quarter worth about $58,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 10.7 %

Shares of NYSE MLI opened at $75.84 on Thursday. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The stock has a fifty day moving average price of $78.51 and a 200 day moving average price of $79.85. The company has a market cap of $8.40 billion, a P/E ratio of 14.28 and a beta of 0.96.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating 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 was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.25 dividend. This is a boost 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 1.32%. Mueller Industries’s dividend payout ratio is 18.83%.

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 price target for the company in a research note on Wednesday, December 11th.

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.