Uncommon Cents Investing LLC Has $4.45 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Uncommon Cents Investing LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 56,055 shares of the industrial products company’s stock after selling 4,730 shares during the period. Mueller Industries makes up approximately 1.3% of Uncommon Cents Investing LLC’s portfolio, making the stock its 16th biggest holding. Uncommon Cents Investing LLC’s holdings in Mueller Industries were worth $4,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $287,000. Advisors Management Group Inc. ADV lifted its stake in Mueller Industries by 26.1% during the 4th quarter. Advisors Management Group Inc. ADV now owns 30,322 shares of the industrial products company’s stock valued at $2,406,000 after acquiring an additional 6,280 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Mueller Industries by 19.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company’s stock worth $323,000 after acquiring an additional 652 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Mueller Industries in the 4th quarter worth $2,268,000. Finally, City State Bank purchased a new stake in shares of Mueller Industries in the fourth quarter valued at about $58,000. 94.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.2 %

Shares of MLI opened at $81.98 on Monday. The stock has a 50 day moving average of $82.57 and a 200 day moving average of $75.03. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 15.92 and a beta of 1.00. Mueller Industries, Inc. has a 12 month low of $45.20 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

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.