Isthmus Partners LLC Trims Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Isthmus Partners LLC lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 55,545 shares of the industrial products company’s stock after selling 856 shares during the period. Isthmus Partners LLC’s holdings in Mueller Industries were worth $4,408,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after purchasing an additional 315,490 shares during the period. Allianz Asset Management GmbH grew its position in Mueller Industries by 135.7% during the fourth 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 in the last quarter. Four Tree Island Advisory LLC bought a new position in Mueller Industries in the 4th quarter worth about $19,376,000. Caisse DE Depot ET Placement DU Quebec raised 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 in the last quarter. Finally, Barclays PLC raised its holdings in shares of Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after acquiring an additional 152,780 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $82.17 on Monday. The company’s fifty day moving average price is $80.14 and its 200-day moving average price is $78.72. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.47 and a beta of 0.99. Mueller Industries, Inc. has a one year low of $50.84 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.22%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is currently 18.83%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Mueller Industries

In other 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 value of $798,100.00. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

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.