Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,464 shares of the industrial products company’s stock after selling 3,527 shares during the quarter. Mueller Industries makes up 1.7% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 27th largest position. Villanova Investment Management Co LLC’s holdings in Mueller Industries were worth $1,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Mueller Industries during the 4th quarter worth about $604,000. Geode Capital Management LLC lifted its stake in Mueller Industries by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock worth $214,763,000 after purchasing an additional 117,327 shares during the last quarter. Franklin Resources Inc. lifted its stake in Mueller Industries by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 77,389 shares of the industrial products company’s stock worth $6,142,000 after purchasing an additional 8,287 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Mueller Industries by 47.7% in the fourth quarter. Alliancebernstein L.P. now owns 296,168 shares of the industrial products company’s stock valued at $23,504,000 after purchasing an additional 95,664 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Mueller Industries by 10.2% in the fourth quarter. Schroder Investment Management Group now owns 7,903 shares of the industrial products company’s stock valued at $630,000 after purchasing an additional 730 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI stock opened at $76.18 on Tuesday. The stock’s 50-day moving average is $79.81 and its two-hundred day moving average is $79.86. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 14.35 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results 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 return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is currently 18.83%.

Insiders Place Their Bets

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 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 owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research report 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.