Handelsbanken Fonder AB Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Handelsbanken Fonder AB raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 100.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,348 shares of the industrial products company’s stock after acquiring an additional 10,174 shares during the period. Handelsbanken Fonder AB’s holdings in Mueller Industries were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Meritage Portfolio Management increased its position in Mueller Industries by 5.4% in the third quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 270 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. Navellier & Associates Inc. raised its position in shares of Mueller Industries by 4.5% during the 3rd quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company’s stock valued at $525,000 after buying an additional 301 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Mueller Industries by 5.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,239 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 337 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC purchased a new position in Mueller Industries in the third quarter worth about $30,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Trading Down 1.8 %

Shares of NYSE:MLI opened at $57.33 on Monday. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a 12 month low of $34.08 and a 12 month high of $59.59. The firm’s 50-day moving average is $52.44 and its 200 day moving average is $47.14.

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

Mueller Industries Increases Dividend

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

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MLI shares. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

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.