Addison Capital Co Purchases 234 Shares of Mueller Industries, Inc. (NYSE:MLI)

Addison Capital Co increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,325 shares of the industrial products company’s stock after purchasing an additional 234 shares during the period. Mueller Industries accounts for 1.6% of Addison Capital Co’s portfolio, making the stock its 17th largest holding. Addison Capital Co’s holdings in Mueller Industries were worth $4,073,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mueller Industries during the fourth quarter valued at $53,000. City State Bank purchased a new stake in Mueller Industries in the 4th quarter worth $58,000. Finally, GAMMA Investing LLC grew its position in shares of Mueller Industries by 46.7% during the fourth 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 in the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 1.8 %

Shares of NYSE:MLI opened at $79.62 on Monday. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 14.99 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81. The company has a 50-day moving average price of $80.15 and a 200 day moving average price of $79.07.

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

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.