Burney Co. Has $2.32 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Burney Co. decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,271 shares of the industrial products company’s stock after selling 847 shares during the period. Burney Co.’s holdings in Mueller Industries were worth $2,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in shares of Mueller Industries during the 2nd quarter valued at about $28,000. GAMMA Investing LLC raised its position in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in Mueller Industries in the third quarter valued at approximately $41,000. City State Bank bought a new stake in Mueller Industries in the fourth quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Mueller Industries during the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

Shares of MLI stock opened at $81.21 on Thursday. The stock’s 50 day simple moving average is $83.33 and its 200 day simple moving average is $74.50. Mueller Industries, Inc. has a twelve month low of $44.39 and a twelve month high of $96.81. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 15.77 and a beta of 1.00.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. Mueller Industries’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Wall Street Analyst Weigh In

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 report on Wednesday, December 11th.

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.