27,645 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,645 shares of the industrial products company’s stock, valued at approximately $2,194,000.

Other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in Mueller Industries in the 3rd quarter worth $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries in the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries in the 4th quarter worth $53,000. City State Bank bought a new position in Mueller Industries in the 4th quarter worth $58,000. Finally, GAMMA Investing LLC raised its holdings in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 258 shares during the period. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

NYSE MLI opened at $77.34 on Monday. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.56 and a beta of 0.99. The company’s fifty day moving average is $80.18 and its two-hundred day moving average is $79.39. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, March 14th. Mueller Industries’s payout ratio is 18.83%.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 sale, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.