EMC Capital Management Buys 7,749 Shares of Mueller Industries, Inc. (NYSE:MLI)

EMC Capital Management raised its stake in Mueller Industries, Inc. (NYSE:MLI) by 450.5% during the 4th quarter, Holdings Channel reports. The fund owned 9,469 shares of the industrial products company’s stock after acquiring an additional 7,749 shares during the period. Mueller Industries makes up about 0.4% of EMC Capital Management’s investment portfolio, making the stock its 16th largest position. EMC Capital Management’s holdings in Mueller Industries were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MLI. New York State Common Retirement Fund increased its stake in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after purchasing an additional 68,633 shares during the period. State Street Corp increased its position in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after buying an additional 139,406 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after buying an additional 7,843 shares in the last quarter. Creative Planning boosted its position in shares of Mueller Industries by 36.5% in the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after acquiring an additional 10,714 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Mueller Industries by 42.5% in the third quarter. Orion Portfolio Solutions LLC now owns 46,747 shares of the industrial products company’s stock valued at $3,464,000 after acquiring an additional 13,933 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 1.5 %

Shares of MLI stock opened at $80.68 on Thursday. The stock has a market cap of $9.18 billion, a P/E ratio of 15.70 and a beta of 1.00. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81. The stock has a 50 day simple moving average of $80.89 and a 200 day simple moving average of $76.22.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

Insider Buying and Selling

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’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 transaction of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note 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.