Navellier & Associates Inc. Purchases 3,190 Shares of Mueller Industries, Inc. (NYSE:MLI)

Navellier & Associates Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 21.9% during the 4th quarter, Holdings Channel reports. The fund owned 17,753 shares of the industrial products company’s stock after buying an additional 3,190 shares during the period. Navellier & Associates Inc.’s holdings in Mueller Industries were worth $1,409,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in shares of Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares in the last quarter. State Street Corp lifted its holdings in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 7,843 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Mueller Industries in the fourth quarter valued at approximately $300,000. Finally, Merit Financial Group LLC bought a new position in shares of Mueller Industries in the fourth quarter valued at approximately $287,000. Institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mueller Industries Trading Down 2.7 %

Shares of MLI opened at $78.41 on Friday. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.77 and a beta of 0.98. The stock has a 50 day moving average of $80.31 and a 200 day moving average of $77.82. Mueller Industries, Inc. has a 12 month low of $47.46 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Mueller Industries’s payout ratio is presently 18.83%.

Insider Buying and Selling at Mueller Industries

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

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.