Jones Financial Companies Lllp Purchases 598 Shares of Mueller Industries, Inc. (NYSE:MLI)

Jones Financial Companies Lllp boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 204.8% during the fourth quarter, Holdings Channel reports. The fund owned 890 shares of the industrial products company’s stock after acquiring an additional 598 shares during the period. Jones Financial Companies Lllp’s holdings in Mueller Industries were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after buying an additional 174 shares during the last quarter. GM Advisory Group LLC grew its stake in shares of 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 valued at $281,000 after buying an additional 192 shares during the last quarter. Caprock Group LLC grew its stake in shares of Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after buying an additional 194 shares during the last quarter. Kestra Investment Management LLC grew its stake in shares of Mueller Industries by 7.7% during the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock valued at $242,000 after buying an additional 218 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after buying an additional 258 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Up 2.4 %

Shares of NYSE:MLI opened at $81.36 on Tuesday. The stock has a market capitalization of $9.22 billion, a P/E ratio of 15.32 and a beta of 0.99. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The stock’s 50-day moving average price is $80.16 and its 200-day moving average price is $79.14.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.80% of the stock is owned by 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 price objective on the stock 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.