Exchange Traded Concepts LLC Has $3.41 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Exchange Traded Concepts LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,922 shares of the industrial products company’s stock after buying an additional 5,767 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Mueller Industries were worth $3,406,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its position in shares of Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares during the last quarter. State Street Corp boosted its stake in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. Farther Finance Advisors LLC grew its holdings in Mueller Industries by 1,322.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares during the last quarter. Creative Planning increased its position in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after buying an additional 10,714 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Mueller Industries by 42.5% during the third quarter. Orion Portfolio Solutions LLC now owns 46,747 shares of the industrial products company’s stock worth $3,464,000 after buying an additional 13,933 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI opened at $80.78 on Friday. Mueller Industries, Inc. has a 52 week low of $47.11 and a 52 week high of $96.81. The firm has a market capitalization of $9.19 billion, a P/E ratio of 15.68 and a beta of 1.00. The company has a 50-day simple moving average of $81.57 and a 200-day simple moving average of $75.78.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, December 6th. Mueller Industries’s dividend payout ratio is presently 15.53%.

Analyst Ratings Changes

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, December 11th.

Insider Activity at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.