Mueller Industries, Inc. (NYSE:MLI) Holdings Lowered by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 53.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,008 shares of the industrial products company’s stock after selling 2,311 shares during the period. AlphaQuest LLC’s holdings in Mueller Industries were worth $159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLI. Atria Investments Inc raised its position in shares of Mueller Industries by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock worth $919,000 after buying an additional 302 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Mueller Industries during the 3rd quarter worth about $320,000. KBC Group NV raised its holdings in shares of Mueller Industries by 12.9% in the 3rd quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 318 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $243,000. Finally, Quest Partners LLC raised its holdings in shares of Mueller Industries by 107,875.0% in the 3rd quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 4,315 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Mueller Industries Price Performance

NYSE MLI opened at $81.36 on Tuesday. The company’s 50 day simple moving average is $80.16 and its 200 day simple moving average is $79.14. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81. The company has a market capitalization of $9.22 billion, a P/E ratio of 15.32 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is currently 18.83%.

Analyst Ratings Changes

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

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.