United Capital Management of KS Inc. Purchases 1,591 Shares of Mueller Industries, Inc. (NYSE:MLI)

United Capital Management of KS Inc. boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,156 shares of the industrial products company’s stock after purchasing an additional 1,591 shares during the period. Mueller Industries comprises 1.2% of United Capital Management of KS Inc.’s holdings, making the stock its 28th biggest holding. United Capital Management of KS Inc. owned approximately 0.07% of Mueller Industries worth $6,520,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MLI. Atria Investments Inc grew its holdings in Mueller Industries by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 302 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Mueller Industries during the 3rd quarter valued at about $320,000. KBC Group NV grew its holdings in Mueller Industries by 12.9% during the 3rd quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 318 shares during the last quarter. CIBC Asset Management Inc bought a new position in Mueller Industries during the 3rd quarter valued at about $243,000. Finally, Archer Investment Corp grew its stake in Mueller Industries by 29.4% in the 3rd quarter. Archer Investment Corp now owns 2,200 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 500 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s 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 owns 56,098 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

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

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

Analyst Upgrades and Downgrades

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