Larson Financial Group LLC Has $28,000 Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Larson Financial Group LLC boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 100.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 598 shares of the industrial products company’s stock after buying an additional 299 shares during the period. Larson Financial Group LLC’s holdings in Mueller Industries were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in Mueller Industries by 90.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock worth $237,633,000 after buying an additional 2,399,862 shares during the period. Pacer Advisors Inc. raised its holdings in Mueller Industries by 194.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock worth $135,938,000 after buying an additional 1,903,745 shares during the period. Gates Capital Management Inc. raised its holdings in Mueller Industries by 53.4% during the 3rd 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 during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Mueller Industries by 98.9% in the fourth 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 purchasing an additional 320,187 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Mueller Industries by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,156 shares of the industrial products company’s stock valued at $44,882,000 after purchasing an additional 36,646 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Down 1.8 %

NYSE MLI opened at $57.33 on Friday. Mueller Industries, Inc. has a 12-month low of $34.08 and a 12-month high of $59.59. The company has a market capitalization of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. The firm’s 50 day moving average is $52.29 and its 200-day moving average is $46.86.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share 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 during the quarter.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. Mueller Industries’s dividend payout ratio (DPR) is currently 16.03%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction on 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 of the company’s stock, valued at $5,970,420.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,280 shares of company stock valued at $2,804,350. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MLI has been the topic of a number of recent research reports. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

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.