Thrivent Financial for Lutherans Has $2.12 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Thrivent Financial for Lutherans reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 69.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,761 shares of the industrial products company’s stock after selling 62,232 shares during the period. Thrivent Financial for Lutherans’ holdings in Mueller Industries were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in Mueller Industries in the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Mueller Industries during the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at about $53,000. City State Bank acquired a new position in shares of Mueller Industries during the 4th quarter worth about $58,000. Finally, GAMMA Investing LLC grew its holdings in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Mueller Industries Price Performance

MLI stock opened at $76.58 on Friday. The business has a 50-day moving average of $79.92 and a 200-day moving average of $79.63. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The stock has a market capitalization of $8.67 billion, a P/E ratio of 14.42 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.25 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, March 14th. Mueller Industries’s dividend payout ratio is 18.83%.

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.