Mutual of America Capital Management LLC Raises Stake in Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC raised its position in Mueller Industries, Inc. (NYSE:MLI) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,854 shares of the industrial products company’s stock after purchasing an additional 45,311 shares during the period. Mutual of America Capital Management LLC’s holdings in Mueller Industries were worth $22,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MLI. CIBC Asset Management Inc lifted its holdings in Mueller Industries by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock worth $274,000 after buying an additional 174 shares during the last quarter. GM Advisory Group LLC raised its position in shares of Mueller Industries by 5.3% during the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 192 shares in the last quarter. Caprock Group LLC lifted its stake in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock worth $674,000 after purchasing an additional 194 shares during the last quarter. Kestra Investment Management LLC boosted its holdings in Mueller Industries by 7.7% in the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 218 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

NYSE MLI opened at $80.18 on Friday. The company has a fifty day moving average of $80.18 and a two-hundred day moving average of $78.18. Mueller Industries, Inc. has a 1 year low of $49.95 and a 1 year high of $96.81. The company has a market capitalization of $9.12 billion, a PE ratio of 15.10 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.25 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

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 that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.