Lingohr Asset Management GmbH Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Lingohr Asset Management GmbH bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,284 shares of the industrial products company’s stock, valued at approximately $422,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Mueller Industries in the fourth quarter worth $201,376,000. Charles Schwab Investment Management Inc. grew its stake in shares of Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after purchasing an additional 315,490 shares during the last quarter. FMR LLC grew its stake in shares of Mueller Industries by 2.6% in the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after purchasing an additional 27,399 shares during the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of Mueller Industries by 1.6% in the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock worth $69,605,000 after purchasing an additional 14,729 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

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 on the stock in a research note on Wednesday, December 11th.

Mueller Industries Stock Up 2.7 %

MLI stock opened at $81.48 on Thursday. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 15.34 and a beta of 0.99. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The company’s fifty day simple moving average is $80.20 and its 200 day simple moving average is $79.21.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) 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 disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is currently 18.83%.

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.