6,921 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,921 shares of the industrial products company’s stock, valued at approximately $549,000.

Other large investors have also modified their holdings of the company. Citigroup Inc. increased its holdings in Mueller Industries by 48.1% during the third quarter. Citigroup Inc. now owns 147,833 shares of the industrial products company’s stock valued at $10,954,000 after buying an additional 48,045 shares during the period. Cerity Partners LLC boosted its position in Mueller Industries by 125.1% during the 3rd quarter. Cerity Partners LLC now owns 8,216 shares of the industrial products company’s stock valued at $609,000 after acquiring an additional 4,566 shares in the last quarter. FMR LLC increased its holdings in shares of Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after acquiring an additional 27,399 shares during the period. BNP Paribas Financial Markets raised its position in shares of Mueller Industries by 9.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 74,834 shares of the industrial products company’s stock worth $5,545,000 after acquiring an additional 6,243 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in shares of Mueller Industries during the 3rd quarter worth $381,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 1.2 %

Shares of MLI opened at $76.58 on Friday. The company has a 50 day moving average of $79.92 and a two-hundred day moving average of $79.63. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 14.42 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’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 transaction, the director now owns 56,098 shares of the company’s stock, 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. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price 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.