TradeLink Capital LLC Buys Shares of 4,850 Mueller Industries, Inc. (NYSE:MLI)

TradeLink Capital LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 4,850 shares of the industrial products company’s stock, valued at approximately $385,000. Mueller Industries makes up about 3.8% of TradeLink Capital LLC’s portfolio, making the stock its 10th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after acquiring an additional 139,406 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Mueller Industries during the 4th quarter valued at about $300,000. Merit Financial Group LLC purchased a new position in Mueller Industries during the 4th quarter valued at about $287,000. Rhumbline Advisers increased its holdings in Mueller Industries by 13.7% during the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock valued at $28,895,000 after acquiring an additional 43,893 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in Mueller Industries by 6.5% during the 4th quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company’s stock valued at $16,081,000 after acquiring an additional 12,450 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Mueller Industries Price Performance

Shares of NYSE MLI opened at $82.17 on Friday. The company has a market cap of $9.31 billion, a PE ratio of 15.47 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.84 and a 12 month high of $96.81. The company has a 50-day simple moving average of $80.14 and a 200-day simple moving average of $78.66.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping 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 company also recently declared 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 of this dividend is Friday, March 14th. This is an increase 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 1.22%. Mueller Industries’s payout ratio is 18.83%.

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.