Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 55.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,893 shares of the industrial products company’s stock after acquiring an additional 18,560 shares during the quarter. Amalgamated Bank’s holdings in Mueller Industries were worth $4,118,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of Mueller Industries by 6.9% during the 3rd quarter. Raymond James & Associates now owns 65,848 shares of the industrial products company’s stock worth $4,879,000 after purchasing an additional 4,226 shares during the period. International Assets Investment Management LLC grew its stake in Mueller Industries by 3,760.7% during the 3rd quarter. International Assets Investment Management LLC now owns 17,875 shares of the industrial products company’s stock worth $1,325,000 after buying an additional 17,412 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Mueller Industries by 17.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,160 shares of the industrial products company’s stock worth $382,000 after buying an additional 772 shares during the period. US Bancorp DE lifted its stake in Mueller Industries by 8.9% in the third quarter. US Bancorp DE now owns 17,741 shares of the industrial products company’s stock valued at $1,315,000 after buying an additional 1,444 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after acquiring an additional 68,633 shares during the period. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’s 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 transaction was disclosed in a filing 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 Up 1.8 %

Shares of NYSE:MLI opened at $80.18 on Friday. The firm’s 50 day moving average is $80.18 and its two-hundred day moving average is $78.18. The firm has a market capitalization of $9.12 billion, a P/E ratio of 15.10 and a beta of 0.98. Mueller Industries, Inc. has a 52 week low of $49.95 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its 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 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. Investors of record on Friday, March 14th will be paid a dividend of $0.25 per share. This is a boost 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 1.25%. The ex-dividend date is Friday, March 14th. Mueller Industries’s payout ratio is currently 18.83%.

Analyst Upgrades and Downgrades

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

About Mueller Industries

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.