Inspire Advisors LLC Boosts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Inspire Advisors LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,526 shares of the industrial products company’s stock after purchasing an additional 693 shares during the period. Inspire Advisors LLC’s holdings in Mueller Industries were worth $1,470,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries in the third quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter worth about $53,000. City State Bank purchased a new position in Mueller Industries during the fourth quarter valued at approximately $58,000. Finally, GAMMA Investing LLC grew its stake in Mueller Industries by 46.7% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on 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 document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Trading Down 1.2 %

Shares of NYSE:MLI opened at $81.09 on Tuesday. The company has a 50 day moving average of $80.16 and a 200 day moving average of $78.81. The stock has a market cap of $9.18 billion, a P/E ratio of 15.27 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.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.23%. Mueller Industries’s payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note 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.