QRG Capital Management Inc. Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

QRG Capital Management Inc. grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,234 shares of the industrial products company’s stock after buying an additional 2,416 shares during the quarter. QRG Capital Management Inc. owned 0.09% of Mueller Industries worth $7,716,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MLI. Fiera Capital Corp purchased a new position in Mueller Industries during the third quarter worth about $35,552,000. Charles Schwab Investment Management Inc. increased its position in Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after purchasing an additional 315,490 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Mueller Industries by 135.7% during the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock worth $40,341,000 after buying an additional 292,697 shares in the last quarter. Four Tree Island Advisory LLC acquired a new position in Mueller Industries during the fourth quarter worth $19,376,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Mueller Industries by 77.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock worth $29,152,000 after acquiring an additional 171,671 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.8 %

MLI stock opened at $80.18 on Friday. The company’s 50-day moving average price is $80.18 and its 200 day moving average price is $78.18. Mueller Industries, Inc. has a 52 week low of $49.95 and a 52 week high of $96.81. The company has a market cap of $9.12 billion, a P/E ratio of 15.10 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Mueller Industries’s payout ratio is currently 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 report on Wednesday, December 11th.

Insider Activity at Mueller Industries

In related 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 value of $798,100.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

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.