Pictet Asset Management Holding SA Acquires 2,569 Shares of Mueller Industries, Inc. (NYSE:MLI)

Pictet Asset Management Holding SA raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,079 shares of the industrial products company’s stock after acquiring an additional 2,569 shares during the period. Pictet Asset Management Holding SA’s holdings in Mueller Industries were worth $1,276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in Mueller Industries by 0.5% during the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after acquiring an additional 170 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 174 shares during the period. Caprock Group LLC grew its holdings in shares of Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock worth $674,000 after purchasing an additional 194 shares during the last quarter. Kestra Investment Management LLC increased its stake in shares of Mueller Industries by 7.7% in the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock worth $242,000 after buying an additional 218 shares during the period. Finally, Addison Capital Co raised its holdings in Mueller Industries by 0.5% during the 4th quarter. Addison Capital Co now owns 51,325 shares of the industrial products company’s stock valued at $4,073,000 after buying an additional 234 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

MLI opened at $70.67 on Friday. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The business has a 50 day simple moving average of $79.31 and a two-hundred day simple moving average of $79.93. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 13.31 and a beta of 0.99.

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

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Insider Activity at Mueller Industries

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

Wall Street Analyst Weigh In

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

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.