Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 96.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,846 shares of the industrial products company’s stock after purchasing an additional 4,830 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Mueller Industries were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MLI. Fifth Third Bancorp increased its holdings in shares of Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares during the period. Beaird Harris Wealth Management LLC bought a new stake in Mueller Industries during the 3rd quarter valued at $30,000. Adirondack Trust Co. acquired a new stake in Mueller Industries in the third quarter worth about $45,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 487 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLI has been the topic of several recent research reports. Northcoast Research reaffirmed 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 report on Monday, January 22nd.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $887,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were 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 in the company, valued at $887,940. The disclosure for this sale can be found here. Insiders sold a total of 108,716 shares of company stock valued at $5,806,311 over the last quarter. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

NYSE MLI traded up $0.67 on Tuesday, hitting $58.67. 538,816 shares of the company were exchanged, compared to its average volume of 678,054. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $59.59. The firm has a market capitalization of $6.66 billion, a P/E ratio of 11.75 and a beta of 1.08. The company’s 50 day moving average price is $53.40 and its 200-day moving average price is $47.76.

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

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio 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.