Mueller Industries, Inc. (NYSE:MLI) Holdings Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 135.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 508,333 shares of the industrial products company’s stock after purchasing an additional 292,697 shares during the quarter. Allianz Asset Management GmbH’s holdings in Mueller Industries were worth $40,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Westside Investment Management Inc. acquired a new stake in Mueller Industries during the 3rd quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries during the fourth quarter valued at $53,000. City State Bank acquired a new position in Mueller Industries during the fourth quarter valued at $58,000. GAMMA Investing LLC lifted its stake in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 258 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries during the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mueller Industries Stock Down 2.7 %

MLI stock opened at $78.41 on Monday. The company has a 50 day moving average of $80.31 and a two-hundred day moving average of $77.90. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 14.77 and a beta of 0.98. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s payout ratio is currently 18.83%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.

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.