Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Decreased by Westover Capital Advisors LLC

Westover Capital Advisors LLC reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,672 shares of the industrial products company’s stock after selling 1,205 shares during the quarter. Westover Capital Advisors LLC’s holdings in Mueller Industries were worth $1,561,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MLI. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries in the third quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter worth approximately $53,000. City State Bank purchased a new position in shares of Mueller Industries in the fourth quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mueller Industries in the third quarter worth approximately $64,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of MLI opened at $79.48 on Tuesday. The company’s 50 day moving average price is $80.18 and its 200 day moving average price is $78.41. Mueller Industries, Inc. has a 52 week low of $49.95 and a 52 week high of $96.81. The company has a market capitalization of $9.00 billion, a PE ratio of 14.97 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last announced 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. 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 Mueller Industries stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report 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.