Natixis Advisors LLC Sells 14,679 Shares of Mueller Industries, Inc. (NYSE:MLI)

Natixis Advisors LLC reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 41.5% during the 4th quarter, Holdings Channel reports. The firm owned 20,674 shares of the industrial products company’s stock after selling 14,679 shares during the period. Natixis Advisors LLC’s holdings in Mueller Industries were worth $1,641,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Westside Investment Management Inc. bought a new position in Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the 4th quarter worth approximately $53,000. City State Bank acquired a new position in Mueller Industries during the fourth quarter valued at approximately $58,000. Finally, GAMMA Investing LLC increased its stake in Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $79.46 on Tuesday. The company has a market capitalization of $9.00 billion, a P/E ratio of 14.96 and a beta of 0.99. The business has a 50-day moving average of $80.19 and a two-hundred day moving average of $79.48. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81.

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

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is 18.83%.

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.