Royce & Associates LP Has $49.48 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Royce & Associates LP cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 623,442 shares of the industrial products company’s stock after selling 50,790 shares during the quarter. Royce & Associates LP owned about 0.55% of Mueller Industries worth $49,476,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MLI. Westside Investment Management Inc. bought a new stake in Mueller Industries in the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Mueller Industries during the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries during the 4th quarter valued at $53,000. City State Bank bought a new stake in shares of Mueller Industries during the 4th quarter valued at $58,000. Finally, GAMMA Investing LLC lifted its position in shares of Mueller Industries by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 258 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’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 transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Performance

Mueller Industries stock opened at $79.62 on Friday. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The stock has a market capitalization of $9.02 billion, a P/E ratio of 14.99 and a beta of 0.99. The stock has a fifty day moving average of $80.15 and a 200-day moving average of $79.01.

Mueller Industries (NYSE:MLI) last posted 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 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. 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 represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is 18.83%.

Analysts Set New Price Targets

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