Rockline Wealth Management LLC Boosts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Rockline Wealth Management LLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,828 shares of the industrial products company’s stock after purchasing an additional 500 shares during the quarter. Rockline Wealth Management LLC’s holdings in Mueller Industries were worth $383,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Kapitalo Investimentos Ltda grew its holdings in shares of Mueller Industries by 3.5% in the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 156 shares in the last quarter. GM Advisory Group LLC increased its position in 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 worth $281,000 after purchasing an additional 192 shares during the last quarter. Caprock Group LLC raised its stake in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after purchasing an additional 194 shares in the last quarter. Finally, Atria Investments Inc lifted its position in Mueller Industries by 2.5% during the third quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 302 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.

Mueller Industries Price Performance

Shares of MLI stock opened at $78.09 on Tuesday. The company has a market cap of $8.88 billion, a PE ratio of 15.16 and a beta of 0.98. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81. The stock’s 50 day simple moving average is $80.40 and its two-hundred day simple moving average is $76.64.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.20 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

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.