Harvest Fund Management Co. Ltd Acquires 3,852 Shares of Mueller Industries, Inc. (NYSE:MLI)

Harvest Fund Management Co. Ltd lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 48.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,825 shares of the industrial products company’s stock after purchasing an additional 3,852 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Mueller Industries were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the 3rd quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries during the 4th quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mueller Industries during the 4th quarter worth approximately $53,000. City State Bank acquired a new stake in Mueller Industries during the 4th quarter worth approximately $58,000. Finally, GAMMA Investing LLC lifted its holdings in Mueller Industries by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 258 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $79.47 on Friday. The stock has a market capitalization of $9.00 billion, a PE ratio of 14.97 and a beta of 0.99. The business has a fifty day moving average price of $80.20 and a two-hundred day moving average price of $79.21. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. The ex-dividend date 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 yield of 1.26%. Mueller Industries’s payout ratio is currently 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a report 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.