Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the industrial products company’s stock after purchasing an additional 8,500 shares during the period. Everence Capital Management Inc.’s holdings in Mueller Industries were worth $802,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLI. Fifth Third Bancorp grew its stake in shares of Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Beaird Harris Wealth Management LLC purchased a new stake in Mueller Industries in the third quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new stake in Mueller Industries in the second quarter valued at $40,000. Adirondack Trust Co. purchased a new stake in Mueller Industries in the third quarter valued at $45,000. Finally, Versant Capital Management Inc lifted its position in Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 487 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $51.96 on Thursday. The company has a 50-day simple moving average of $51.59 and a 200-day simple moving average of $46.15. Mueller Industries, Inc. has a one year low of $33.59 and a one year high of $54.64. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 9.78 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%. The business had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.20 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is currently 15.05%.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the transaction, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the transaction, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

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.