Navellier & Associates Inc. Has $1.41 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Navellier & Associates Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,753 shares of the industrial products company’s stock after purchasing an additional 3,190 shares during the period. Navellier & Associates Inc.’s holdings in Mueller Industries were worth $1,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MLI. Creative Planning increased its holdings in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after purchasing an additional 10,714 shares in the last quarter. Raymond James & Associates increased its stake in shares of Mueller Industries by 6.9% in the third quarter. Raymond James & Associates now owns 65,848 shares of the industrial products company’s stock valued at $4,879,000 after buying an additional 4,226 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Mueller Industries by 12.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,394 shares of the industrial products company’s stock valued at $400,000 after buying an additional 592 shares during the period. International Assets Investment Management LLC increased its stake in shares of Mueller Industries by 3,760.7% in the third quarter. International Assets Investment Management LLC now owns 17,875 shares of the industrial products company’s stock valued at $1,325,000 after buying an additional 17,412 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Mueller Industries by 17.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,160 shares of the industrial products company’s stock valued at $382,000 after buying an additional 772 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Trading Down 2.7 %

Shares of MLI stock opened at $78.41 on Friday. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 14.77 and a beta of 0.98. The stock has a 50-day moving average of $80.31 and a 200-day moving average of $77.82. Mueller Industries, Inc. has a 1-year low of $47.46 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS 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 firm also recently announced 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. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Mueller Industries’s dividend payout ratio is presently 18.83%.

Analyst Ratings Changes

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 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.