Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 167.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,978 shares of the industrial products company’s stock after acquiring an additional 4,370 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Mueller Industries were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in shares of Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after buying an additional 170 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after buying an additional 174 shares during the last quarter. GM Advisory Group LLC raised its position in shares of Mueller Industries by 5.3% in the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after buying an additional 192 shares during the last quarter. Caprock Group LLC raised its position in shares of Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after buying an additional 194 shares during the last quarter. Finally, Kestra Investment Management LLC raised its position in shares of Mueller Industries by 7.7% in the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock valued at $242,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI stock opened at $77.34 on Friday. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The company has a 50 day moving average price of $80.18 and a 200 day moving average price of $79.31. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.56 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.25 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.29%. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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.

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.