Exchange Traded Concepts LLC Purchases 5,767 Shares of Mueller Industries, Inc. (NYSE:MLI)

Exchange Traded Concepts LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 15.5% in the 4th quarter, HoldingsChannel reports. The firm owned 42,922 shares of the industrial products company’s stock after buying an additional 5,767 shares during the period. Exchange Traded Concepts LLC’s holdings in Mueller Industries were worth $3,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Mueller Industries by 36.0% in 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 during the last quarter. Westside Investment Management Inc. acquired a new stake in Mueller Industries during the 3rd quarter valued at $41,000. City State Bank acquired a new position in Mueller Industries in the fourth quarter worth $58,000. Harbor Capital Advisors Inc. bought a new stake in shares of Mueller Industries during the third quarter worth $64,000. Finally, Quarry LP increased its stake in shares of Mueller Industries by 525.5% in the second quarter. Quarry LP now owns 1,301 shares of the industrial products company’s stock valued at $74,000 after buying an additional 1,093 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, 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 completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Price Performance

MLI opened at $80.78 on Friday. The company’s 50 day simple moving average is $81.57 and its 200-day simple moving average is $75.78. Mueller Industries, Inc. has a one year low of $47.11 and a one year high of $96.81. The stock has a market capitalization of $9.19 billion, a P/E ratio of 15.68 and a beta of 1.00.

Mueller Industries Announces Dividend

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

Analysts Set New Price Targets

Separately, Northcoast Research upgraded 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 Company 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.