Securian Asset Management Inc. Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Securian Asset Management Inc. purchased a new position in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 8,598 shares of the industrial products company’s stock, valued at approximately $682,000.

A number of other institutional investors also recently bought and sold shares of MLI. Atria Investments Inc lifted its position in Mueller Industries by 2.5% in the third quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock worth $919,000 after buying an additional 302 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Mueller Industries in the third quarter worth $320,000. KBC Group NV lifted its position in Mueller Industries by 12.9% in the third quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock worth $206,000 after buying an additional 318 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Mueller Industries in the third quarter worth $243,000. Finally, Quest Partners LLC lifted its position in Mueller Industries by 107,875.0% in the third quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock worth $320,000 after buying an additional 4,315 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Mueller Industries Stock Up 1.8 %

MLI stock opened at $79.62 on Monday. The business’s fifty day simple moving average is $80.15 and its two-hundred day simple moving average is $79.07. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 14.99 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping 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 firm 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. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

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.