Mueller Industries, Inc. (NYSE:MLI) Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,389 shares of the industrial products company’s stock after purchasing an additional 8,287 shares during the quarter. Franklin Resources Inc. owned about 0.07% of Mueller Industries worth $6,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the 4th quarter valued at $32,000. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter valued at $53,000. Finally, City State Bank bought a new position in shares of Mueller Industries during the 4th quarter valued at $58,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI opened at $75.84 on Thursday. The company has a market capitalization of $8.40 billion, a PE ratio of 14.28 and a beta of 0.96. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The company’s fifty day moving average price is $78.51 and its 200 day moving average price is $79.85.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.32%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

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 on the stock in a report on Wednesday, December 11th.

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 on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

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.