Westover Capital Advisors LLC Acquires 12,224 Shares of Mueller Industries, Inc. (NYSE:MLI)

Westover Capital Advisors LLC boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 96.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,926 shares of the industrial products company’s stock after purchasing an additional 12,224 shares during the quarter. Westover Capital Advisors LLC’s holdings in Mueller Industries were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Meritage Portfolio Management increased its holdings in Mueller Industries by 5.4% in the third quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 270 shares in the last quarter. Fifth Third Bancorp increased its holdings in Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC increased its holdings in Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 299 shares in the last quarter. Navellier & Associates Inc. increased its holdings in Mueller Industries by 4.5% in the third quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 301 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Mueller Industries by 5.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,239 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 337 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MLI has been the subject of a number of research reports. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.

Mueller Industries Stock Performance

Mueller Industries stock traded up $0.53 during mid-day trading on Thursday, reaching $56.62. The stock had a trading volume of 243,182 shares, compared to its average volume of 681,608. The firm has a market capitalization of $6.43 billion, a PE ratio of 11.24 and a beta of 1.08. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $59.59. The stock’s 50-day simple moving average is $52.91 and its 200-day simple moving average is $47.49.

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

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a 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%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $887,940. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,716 shares of company stock valued at $5,806,311. Insiders own 2.80% of the company’s stock.

Mueller Industries 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.