Securian Asset Management Inc. Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Securian Asset Management Inc. bought a new position in Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,598 shares of the industrial products company’s stock, valued at approximately $682,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. Atria Investments Inc increased its holdings in Mueller Industries by 2.5% in the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 302 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $320,000. KBC Group NV increased its holdings in Mueller Industries by 12.9% in the 3rd quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 318 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $243,000. Finally, Quest Partners LLC increased its holdings in Mueller Industries by 107,875.0% in the 3rd quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock worth $320,000 after acquiring an additional 4,315 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of MLI opened at $79.62 on Monday. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81. The company has a 50 day simple moving average of $80.15 and a two-hundred day simple moving average of $79.07. The firm has a market cap of $9.02 billion, a P/E ratio of 14.99 and a beta of 0.99.

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, 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This is a positive change 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%. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is 18.83%.

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.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

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.