Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Texas Yale Capital Corp.

Texas Yale Capital Corp. grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 6.0% during the 4th quarter, Holdings Channel reports. The firm owned 3,560 shares of the industrial products company’s stock after buying an additional 200 shares during the period. Texas Yale Capital Corp.’s holdings in Mueller Industries were worth $283,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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 research note on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction 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 owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

MLI stock opened at $75.84 on Thursday. The stock has a market capitalization of $8.40 billion, a P/E ratio of 14.28 and a beta of 0.96. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The company has a 50 day moving average price of $78.51 and a two-hundred day moving average price of $79.85.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping 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 business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is 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.