Fox Run Management L.L.C. Makes New $670,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

Fox Run Management L.L.C. purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,439 shares of the industrial products company’s stock, valued at approximately $670,000.

A number of other institutional investors have also modified their holdings of MLI. Arizona State Retirement System grew its stake in Mueller Industries by 0.5% in the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock worth $2,480,000 after acquiring an additional 170 shares during the period. CIBC Asset Management Inc grew its position in shares of Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 174 shares during the period. Caprock Group LLC grew its position in shares of Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after purchasing an additional 194 shares during the period. Kestra Investment Management LLC increased its stake 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 during the last quarter. Finally, Addison Capital Co lifted its position in Mueller Industries by 0.5% during the fourth quarter. Addison Capital Co now owns 51,325 shares of the industrial products company’s stock worth $4,073,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction that occurred 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 approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

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

Mueller Industries Stock Performance

Shares of MLI stock opened at $79.46 on Tuesday. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 14.96 and a beta of 0.99. 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 $80.19 and a 200 day moving average price of $79.48.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s payout ratio is currently 18.83%.

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.