Villanova Investment Management Co LLC Reduces Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Villanova Investment Management Co LLC decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,464 shares of the industrial products company’s stock after selling 3,527 shares during the period. Mueller Industries makes up 1.7% of Villanova Investment Management Co LLC’s holdings, making the stock its 27th largest holding. Villanova Investment Management Co LLC’s holdings in Mueller Industries were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of MLI. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries during the 4th quarter worth about $32,000. Westside Investment Management Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $53,000. Finally, City State Bank acquired a new stake in Mueller Industries during the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Ratings Changes

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 report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In related 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Mueller Industries Trading Down 0.5 %

Mueller Industries stock opened at $76.18 on Tuesday. The stock has a fifty day moving average price of $79.81 and a 200 day moving average price of $79.86. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The firm has a market capitalization of $8.63 billion, a P/E ratio of 14.35 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data 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 net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Mueller Industries Company 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.