Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 100.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,811 shares of the industrial products company’s stock after purchasing an additional 5,927 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Mueller Industries were worth $557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Raymond James & Associates purchased a new position in shares of Mueller Industries during the 1st quarter worth $379,000. HighTower Advisors LLC raised its holdings in shares of Mueller Industries by 18.7% during the 1st quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 693 shares during the period. Citigroup Inc. raised its holdings in shares of Mueller Industries by 9.4% during the 1st quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock worth $2,700,000 after acquiring an additional 4,289 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Mueller Industries by 18.1% during the 1st quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock worth $646,000 after acquiring an additional 1,826 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Mueller Industries by 607.0% during the 1st quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 10,259 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.7 %

Shares of MLI opened at $52.32 on Friday. The firm has a market cap of $5.94 billion, a P/E ratio of 9.84 and a beta of 1.08. Mueller Industries, Inc. has a 12-month low of $33.90 and a 12-month high of $54.64. The company’s 50-day moving average price is $51.64 and its 200 day moving average price is $46.19.

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

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.20 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, March 14th. Mueller Industries’s payout ratio is 15.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Insiders Place Their Bets

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s 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 sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $887,940. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.