Blue Trust Inc. Buys 957 Shares of Mueller Industries, Inc. (NYSE:MLI)

Blue Trust Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,135 shares of the industrial products company’s stock after acquiring an additional 957 shares during the quarter. Blue Trust Inc.’s holdings in Mueller Industries were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Mueller Industries by 36.0% during the 3rd 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 last quarter. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $41,000. City State Bank bought a new position in shares of Mueller Industries during the 4th quarter valued at $58,000. Harbor Capital Advisors Inc. purchased a new position in Mueller Industries in the 3rd quarter worth $64,000. Finally, Quarry LP lifted its stake in Mueller Industries by 525.5% in the second quarter. Quarry LP now owns 1,301 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $78.78 on Friday. The company’s 50 day moving average price is $80.48 and its 200-day moving average price is $76.37. Mueller Industries, Inc. has a 52-week low of $47.46 and a 52-week high of $96.81. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 15.30 and a beta of 1.00.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.02%. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In related 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 value of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Mueller Industries 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.