Los Angeles Capital Management LLC Reduces Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Los Angeles Capital Management LLC cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,513 shares of the industrial products company’s stock after selling 5,100 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Mueller Industries worth $5,755,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the 4th quarter valued at approximately $53,000. City State Bank purchased a new position in shares of Mueller Industries in the fourth quarter worth $58,000. Harbor Capital Advisors Inc. purchased a new position in shares of Mueller Industries in the third quarter worth $64,000. Finally, GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after buying an additional 258 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

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

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 dated 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Down 0.7 %

Shares of NYSE:MLI opened at $79.74 on Thursday. Mueller Industries, Inc. has a 52-week low of $49.95 and a 52-week high of $96.81. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 15.02 and a beta of 0.98. The business has a 50-day moving average price of $80.20 and a 200-day moving average price of $78.09.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 1.25%. 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 18.83%.

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.