Integrated Quantitative Investments LLC Invests $1.02 Million in Mueller Industries, Inc. (NYSE:MLI)

Integrated Quantitative Investments LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,800 shares of the industrial products company’s stock, valued at approximately $1,016,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth $201,376,000. Norges Bank acquired a new position in shares of Mueller Industries in the fourth quarter worth about $117,351,000. Arrowstreet Capital Limited Partnership increased its holdings in Mueller Industries by 59.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 844,287 shares of the industrial products company’s stock worth $67,003,000 after purchasing an additional 316,095 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Mueller Industries by 135.7% in the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after purchasing an additional 292,697 shares in the last quarter. Finally, Four Tree Island Advisory LLC purchased a new position in shares of Mueller Industries during the 4th quarter valued at approximately $19,376,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction 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 owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 target on the stock in a report on Wednesday, December 11th.

Mueller Industries Price Performance

Mueller Industries stock opened at $74.10 on Friday. The company has a market cap of $8.39 billion, a PE ratio of 13.95 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 has a fifty day moving average price of $79.51 and a two-hundred day moving average price of $79.87.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 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 was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio 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.