Virtu Financial LLC Increases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Virtu Financial LLC lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 148.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,350 shares of the industrial products company’s stock after buying an additional 5,592 shares during the quarter. Virtu Financial LLC’s holdings in Mueller Industries were worth $742,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westside Investment Management Inc. acquired a new stake in Mueller Industries during the 3rd quarter worth $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries during the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $53,000. City State Bank acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $58,000. Finally, GAMMA Investing LLC boosted its position in shares of Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

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

Mueller Industries Price Performance

MLI stock opened at $79.46 on Tuesday. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 14.96 and a beta of 0.99. The company has a fifty day moving average price of $80.19 and a 200 day moving average price of $79.48. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

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.