Xponance Inc. Raises Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 104.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,816 shares of the industrial products company’s stock after purchasing an additional 3,479 shares during the quarter. Xponance Inc.’s holdings in Mueller Industries were worth $321,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MLI. Allspring Global Investments Holdings LLC raised its stake in shares of Mueller Industries by 90.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock worth $237,633,000 after purchasing an additional 2,399,862 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Mueller Industries by 194.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock worth $135,938,000 after purchasing an additional 1,903,745 shares during the last quarter. Gates Capital Management Inc. raised its stake in shares of Mueller Industries by 53.4% during the third quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock worth $89,947,000 after purchasing an additional 416,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Mueller Industries by 98.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,872 shares of the industrial products company’s stock worth $30,359,000 after acquiring an additional 320,187 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in Mueller Industries by 140.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 303,303 shares of the industrial products company’s stock worth $14,140,000 after acquiring an additional 177,133 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now owns 370,840 shares of the company’s stock, valued at $18,263,870. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director John B. Hansen sold 4,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the transaction, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The disclosure for this sale can be found here. Insiders have sold a total of 56,280 shares of company stock valued at $2,804,350 over the last quarter. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MLI shares. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Mueller Industries Stock Performance

Mueller Industries stock opened at $57.33 on Friday. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a fifty-two week low of $34.08 and a fifty-two week high of $59.59. The stock’s fifty day moving average is $52.44 and its two-hundred day moving average is $47.07.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. The company had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Mueller Industries Company 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.