Diametric Capital LP Has $260,000 Holdings in Mueller Industries, Inc. (NYSE:MLI)

Diametric Capital LP decreased its stake in Mueller Industries, Inc. (NYSE:MLI) by 55.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,281 shares of the industrial products company’s stock after selling 4,144 shares during the quarter. Diametric Capital LP’s holdings in Mueller Industries were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in Mueller Industries during the 4th quarter worth approximately $32,000. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the third quarter worth $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries in the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the 4th quarter valued at $53,000. Finally, City State Bank acquired a new stake in Mueller Industries during the 4th quarter worth $58,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Performance

Shares of MLI opened at $77.54 on Wednesday. The firm has a market cap of $8.78 billion, a P/E ratio of 14.60 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The firm’s 50 day moving average price is $79.70 and its two-hundred day moving average price is $79.91.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate 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. Investors of record on Friday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. Mueller Industries’s dividend payout ratio (DPR) is presently 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.