Jennison Associates LLC Has $947,000 Stake in Mueller Industries, Inc. (NYSE:MLI)

Jennison Associates LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 32.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,094 shares of the industrial products company’s stock after buying an additional 4,920 shares during the quarter. Jennison Associates LLC’s holdings in Mueller Industries were worth $947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. F&V Capital Management LLC increased its stake in shares of Mueller Industries by 100.0% in the fourth quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock valued at $7,775,000 after buying an additional 82,445 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Mueller Industries in the fourth quarter valued at approximately $2,678,000. Nisa Investment Advisors LLC increased its stake in shares of Mueller Industries by 86.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,850 shares of the industrial products company’s stock valued at $464,000 after buying an additional 4,575 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Mueller Industries by 181.2% in the third quarter. Qube Research & Technologies Ltd now owns 57,165 shares of the industrial products company’s stock valued at $4,297,000 after buying an additional 36,835 shares during the period. Finally, Linden Thomas Advisory Services LLC acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $705,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,970,420.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John B. Hansen sold 4,000 shares of the stock in a transaction on 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 in the company, valued at approximately $5,970,420.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 5,000 shares of the 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 completion of 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. In the last three months, insiders have sold 56,280 shares of company stock worth $2,804,350. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI stock opened at $57.33 on Friday. The business’s 50 day simple moving average is $52.44 and its 200 day simple moving average is $47.07. Mueller Industries, Inc. has a one year low of $34.08 and a one year high of $59.59. The stock has a market capitalization of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s dividend payout ratio is presently 16.03%.

Wall Street Analyst Weigh In

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

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.