Jackson Hole Capital Partners LLC Acquires New Position in Mueller Industries, Inc. (NYSE:MLI)

Jackson Hole Capital Partners LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, Holdings Channel reports. The firm acquired 7,800 shares of the industrial products company’s stock, valued at approximately $368,000.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $30,000. Adirondack Trust Co. acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $45,000. Finally, Versant Capital Management Inc grew its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the sale, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the sale, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares of the company’s stock, valued at approximately $887,940. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,280 shares of company stock worth $2,804,350. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MLI. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Mueller Industries Stock Down 1.8 %

NYSE MLI traded down $1.08 on Friday, hitting $57.33. 684,601 shares of the stock were exchanged, compared to its average volume of 685,640. Mueller Industries, Inc. has a fifty-two week low of $34.08 and a fifty-two week high of $59.59. The company has a market cap of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. The company has a 50-day moving average price of $52.29 and a 200-day moving average price of $46.86.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. The business had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s payout ratio is currently 16.03%.

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.