Xponance Inc. Acquires 8,776 Shares of Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 119.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,103 shares of the industrial products company’s stock after purchasing an additional 8,776 shares during the period. Xponance Inc.’s holdings in Mueller Industries were worth $1,278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MLI. CIBC Asset Management Inc purchased a new position in shares of Mueller Industries during the third quarter valued at about $243,000. Quest Partners LLC grew its position in shares of Mueller Industries by 107,875.0% during the third quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock valued at $320,000 after purchasing an additional 4,315 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mueller Industries during the third quarter valued at about $1,922,000. Advisors Asset Management Inc. grew its position in shares of Mueller Industries by 5.5% during the third quarter. Advisors Asset Management Inc. now owns 36,174 shares of the industrial products company’s stock valued at $2,680,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Mueller Industries by 32.2% during the third quarter. Intech Investment Management LLC now owns 63,248 shares of the industrial products company’s stock valued at $4,687,000 after purchasing an additional 15,407 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 2.8 %

MLI opened at $77.34 on Friday. The firm has a market cap of $8.76 billion, a P/E ratio of 14.56 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81. The stock has a 50-day moving average of $80.18 and a 200 day moving average of $79.31.

Mueller Industries (NYSE:MLI) last released its quarterly 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 return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.29%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research 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 dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by insiders.

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.