Oliver Luxxe Assets LLC Purchases 19,847 Shares of Mueller Industries, Inc. (NYSE:MLI)

Oliver Luxxe Assets LLC grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 33.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 79,055 shares of the industrial products company’s stock after acquiring an additional 19,847 shares during the quarter. Mueller Industries comprises approximately 1.1% of Oliver Luxxe Assets LLC’s holdings, making the stock its 21st largest holding. Oliver Luxxe Assets LLC owned 0.07% of Mueller Industries worth $6,274,000 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 business. GAMMA Investing LLC raised its position in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares during the period. Kapitalo Investimentos Ltda lifted its position in Mueller Industries by 3.5% in the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after buying an additional 156 shares during the last quarter. GM Advisory Group LLC boosted its stake in Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after buying an additional 192 shares during the period. Hsbc Holdings PLC increased its position in Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after acquiring an additional 233 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of Mueller Industries by 4.4% in the second quarter. Xponance Inc. now owns 7,123 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 302 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 0.2 %

Shares of MLI traded up $0.14 during midday trading on Monday, reaching $80.88. 252,152 shares of the stock were exchanged, compared to its average volume of 440,224. The company has a market capitalization of $9.20 billion, a P/E ratio of 15.70 and a beta of 1.00. Mueller Industries, Inc. has a 52 week low of $44.39 and a 52 week high of $96.81. The company’s 50 day moving average is $83.78 and its two-hundred day moving average is $73.35.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Mueller Industries 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 transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

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.