Headlands Technologies LLC Buys Shares of 7,616 Mueller Industries, Inc. (NYSE:MLI)

Headlands Technologies LLC purchased a new stake in 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 institutional investor purchased 7,616 shares of the industrial products company’s stock, valued at approximately $604,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in Mueller Industries by 0.5% during the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock worth $2,480,000 after buying an additional 170 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 174 shares during the period. Caprock Group LLC boosted its stake in Mueller Industries by 2.3% during the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 194 shares during the last quarter. Kestra Investment Management LLC grew its holdings in Mueller Industries by 7.7% during 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 period. Finally, Addison Capital Co increased its stake in Mueller Industries by 0.5% in the fourth quarter. Addison Capital Co now owns 51,325 shares of the industrial products company’s stock valued at $4,073,000 after purchasing an additional 234 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction 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 trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $79.49 on Thursday. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 14.97 and a beta of 0.99. The stock’s 50-day moving average is $79.66 and its 200-day moving average is $79.91. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share 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 business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) 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.