Catalyst Funds Management Pty Ltd Purchases 26,200 Shares of Mueller Industries, Inc. (NYSE:MLI)

Catalyst Funds Management Pty Ltd lifted its position in Mueller Industries, Inc. (NYSE:MLI) by 451.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,000 shares of the industrial products company’s stock after buying an additional 26,200 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Mueller Industries were worth $2,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in Mueller Industries by 0.5% during the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after buying an additional 170 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after buying an additional 174 shares during the last quarter. GM Advisory Group LLC increased its holdings in Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after buying an additional 192 shares during the last quarter. Caprock Group LLC increased its holdings in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after buying an additional 194 shares during the last quarter. Finally, Kestra Investment Management LLC increased its holdings in Mueller Industries by 7.7% during the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock valued at $242,000 after buying an additional 218 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.8 %

Shares of MLI stock opened at $79.62 on Friday. The company has a 50 day simple moving average of $80.18 and a two-hundred day simple moving average of $78.88. The stock has a market cap of $9.02 billion, a P/E ratio of 14.99 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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 of the company’s stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

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.