Victory Capital Management Inc. Has $78.58 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Victory Capital Management Inc. raised its stake in Mueller Industries, Inc. (NYSE:MLI) by 99.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,666,651 shares of the industrial products company’s stock after purchasing an additional 831,686 shares during the period. Victory Capital Management Inc. owned 1.47% of Mueller Industries worth $78,583,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MLI. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $237,633,000 after buying an additional 2,399,862 shares during the last quarter. Pacer Advisors Inc. boosted its position 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 valued at $135,938,000 after buying an additional 1,903,745 shares during the last quarter. Gates Capital Management Inc. grew its holdings in 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 buying an additional 416,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Mueller Industries by 98.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,872 shares of the industrial products company’s stock valued at $30,359,000 after buying an additional 320,187 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Mueller Industries by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,156 shares of the industrial products company’s stock worth $44,882,000 after acquiring an additional 36,646 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Mueller Industries

In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $57.25, for a total value of $3,001,961.00. Following the sale, the chief financial officer now directly owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the sale, the chief financial officer now directly owns 313,529 shares of the company’s stock, valued at approximately $17,949,535.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,716 shares of company stock valued at $5,806,311. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

NYSE MLI opened at $56.81 on Friday. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $59.59. The company has a fifty day moving average of $53.25 and a 200-day moving average of $47.69. The company has a market capitalization of $6.45 billion, a P/E ratio of 11.38 and a beta of 1.08.

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

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s payout ratio is currently 16.03%.

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.