Versor Investments LP Increases Stake in Mueller Industries, Inc. (NYSE:MLI)

Versor Investments LP increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,800 shares of the industrial products company’s stock after buying an additional 700 shares during the period. Versor Investments LP’s holdings in Mueller Industries were worth $778,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake 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 buying an additional 68,633 shares during the period. State Street Corp increased its stake in shares of Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Mueller Industries during the fourth quarter valued at $300,000. Finally, Merit Financial Group LLC purchased a new position in shares of Mueller Industries during the fourth quarter valued at $287,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI stock opened at $80.18 on Friday. Mueller Industries, Inc. has a 1-year low of $49.95 and a 1-year high of $96.81. The stock’s 50-day moving average is $80.18 and its 200 day moving average is $78.18. The company has a market cap of $9.12 billion, a P/E ratio of 15.10 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’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 sale, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

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

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.