Linden Thomas Advisory Services LLC Buys 9,749 Shares of Mueller Industries, Inc. (NYSE:MLI)

Linden Thomas Advisory Services LLC lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 103.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,135 shares of the industrial products company’s stock after acquiring an additional 9,749 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Mueller Industries were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MLI. Fifth Third Bancorp grew its position in Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC raised its holdings in Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new stake in Mueller Industries in the third quarter valued at approximately $30,000. Adirondack Trust Co. purchased a new stake in shares of Mueller Industries during the 3rd quarter valued at $45,000. Finally, Versant Capital Management Inc boosted its position in shares of Mueller Industries by 100.0% in the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 487 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John B. Hansen sold 4,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The disclosure for this sale can be found here. Insiders have sold a total of 56,280 shares of company stock worth $2,804,350 in the last quarter. 2.80% of the stock is owned by company insiders.

Mueller Industries Price Performance

NYSE MLI opened at $58.40 on Friday. The company has a market cap of $6.63 billion, a P/E ratio of 11.70 and a beta of 1.08. The stock has a 50-day moving average of $52.13 and a two-hundred day moving average of $46.78. Mueller Industries, Inc. has a 1-year low of $34.08 and a 1-year high of $59.59.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The company had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.37%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s payout ratio is presently 16.03%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MLI shares. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

About Mueller Industries

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.