Advisors Management Group Inc. ADV Purchases 6,280 Shares of Mueller Industries, Inc. (NYSE:MLI)

Advisors Management Group Inc. ADV grew its position in Mueller Industries, Inc. (NYSE:MLI) by 26.1% during the fourth quarter, HoldingsChannel reports. The firm owned 30,322 shares of the industrial products company’s stock after buying an additional 6,280 shares during the period. Advisors Management Group Inc. ADV’s holdings in Mueller Industries were worth $2,406,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. bought a new stake in Mueller Industries during the second quarter valued at $28,000. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Mueller Industries in the 3rd quarter valued at about $41,000. City State Bank bought a new stake in shares of Mueller Industries during the 4th quarter valued at about $58,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries during the third quarter worth approximately $64,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Up 0.7 %

Shares of NYSE MLI opened at $81.21 on Thursday. Mueller Industries, Inc. has a 12-month low of $44.39 and a 12-month high of $96.81. The firm has a market cap of $9.24 billion, a PE ratio of 15.77 and a beta of 1.00. The company’s fifty day simple moving average is $83.33 and its 200 day simple moving average is $74.50.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insider Activity

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.