Smartleaf Asset Management LLC Boosts Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Smartleaf Asset Management LLC raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 178.5% during the 4th quarter, Holdings Channel reports. The firm owned 2,075 shares of the industrial products company’s stock after buying an additional 1,330 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Mueller Industries were worth $166,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MLI. Wealth Enhancement Advisory Services LLC grew its stake in Mueller Industries by 17.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,160 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 772 shares during the last quarter. US Bancorp DE grew its stake in Mueller Industries by 8.9% during the 3rd quarter. US Bancorp DE now owns 17,741 shares of the industrial products company’s stock valued at $1,315,000 after purchasing an additional 1,444 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Mueller Industries during the 3rd quarter valued at about $64,000. Van ECK Associates Corp grew its stake in Mueller Industries by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 72,704 shares of the industrial products company’s stock valued at $5,889,000 after purchasing an additional 20,775 shares during the last quarter. Finally, Advisors Management Group Inc. ADV grew its stake in Mueller Industries by 12.5% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 24,042 shares of the industrial products company’s stock valued at $1,782,000 after purchasing an additional 2,676 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.4 %

Shares of MLI stock opened at $79.64 on Friday. The stock has a market cap of $9.02 billion, a PE ratio of 15.00 and a beta of 0.98. The business has a 50-day simple moving average of $80.12 and a 200-day simple moving average of $78.49. Mueller Industries, Inc. has a 52-week low of $50.75 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is 18.83%.

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.