Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 304.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,084 shares of the industrial products company’s stock after purchasing an additional 6,084 shares during the period. Flputnam Investment Management Co.’s holdings in Mueller Industries were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. International Assets Investment Management LLC increased its stake in shares of Mueller Industries by 3,760.7% during the third quarter. International Assets Investment Management LLC now owns 17,875 shares of the industrial products company’s stock worth $1,325,000 after purchasing an additional 17,412 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Mueller Industries by 17.6% in the 3rd 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 last quarter. US Bancorp DE increased 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 worth $1,315,000 after buying an additional 1,444 shares in the last quarter. New York State Common Retirement Fund raised 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 last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 7,843 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Mueller Industries Stock Down 0.9 %

Shares of NYSE MLI opened at $79.48 on Tuesday. The firm has a 50-day simple moving average of $80.18 and a 200-day simple moving average of $78.41. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 14.97 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 released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. This is a positive change 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.