Meiji Yasuda Asset Management Co Ltd. Invests $220,000 in Mueller Industries, Inc. (NYSE:MLI)

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,775 shares of the industrial products company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC bought a new position in shares of Mueller Industries in the fourth quarter valued at approximately $201,376,000. Allianz Asset Management GmbH raised its holdings in Mueller Industries by 135.7% in the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock worth $40,341,000 after acquiring an additional 292,697 shares during the period. Four Tree Island Advisory LLC acquired a new position in Mueller Industries during the 4th quarter worth $19,376,000. Caisse DE Depot ET Placement DU Quebec boosted 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 valued at $29,152,000 after acquiring an additional 171,671 shares during the period. Finally, Barclays PLC grew its position in shares of Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after purchasing an additional 152,780 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 hyperlink. 2.80% of the stock is owned by insiders.

Mueller Industries Trading Down 1.2 %

Shares of Mueller Industries stock opened at $76.58 on Friday. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 14.42 and a beta of 0.99. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81. The company’s fifty day simple moving average is $79.92 and its 200-day simple moving average is $79.63.

Mueller Industries (NYSE:MLI) last announced 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is currently 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.