Xponance Inc. Buys 8,776 Shares of Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 119.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,103 shares of the industrial products company’s stock after acquiring an additional 8,776 shares during the period. Xponance Inc.’s holdings in Mueller Industries were worth $1,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries during the third quarter valued at approximately $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $53,000. City State Bank bought a new position in Mueller Industries in the fourth quarter worth approximately $58,000. Finally, GAMMA Investing LLC raised its stake in Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after buying an additional 258 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity

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

Mueller Industries Trading Down 2.8 %

NYSE MLI opened at $77.34 on Friday. The firm’s fifty day simple moving average is $80.18 and its two-hundred day simple moving average is $79.31. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The firm has a market capitalization of $8.76 billion, a P/E ratio of 14.56 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released 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 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 is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. Mueller Industries’s payout ratio is 18.83%.

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 note 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.