4,521 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by BankPlus Trust Department

BankPlus Trust Department purchased a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,521 shares of the industrial products company’s stock, valued at approximately $359,000.

Other hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new stake in Mueller Industries during the third quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mueller Industries during the fourth quarter valued at about $53,000. City State Bank bought a new stake in Mueller Industries during the fourth quarter valued at about $58,000. GAMMA Investing LLC boosted its holdings in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 258 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in Mueller Industries during the third quarter valued at about $64,000. 94.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Northcoast Research upgraded shares of 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

NYSE MLI opened at $79.66 on Tuesday. The firm has a 50-day simple moving average of $80.22 and a 200 day simple moving average of $77.99. Mueller Industries, Inc. has a twelve month low of $49.10 and a twelve month high of $96.81. The stock has a market cap of $9.06 billion, a PE ratio of 15.00 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.25 dividend. 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. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

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.