Gallacher Capital Management LLC Buys 4,364 Shares of Mueller Industries, Inc. (NYSE:MLI)

Gallacher Capital Management LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 96.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,867 shares of the industrial products company’s stock after acquiring an additional 4,364 shares during the period. Gallacher Capital Management LLC’s holdings in Mueller Industries were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MLI. Allspring Global Investments Holdings LLC grew its holdings in Mueller Industries by 90.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock valued at $237,633,000 after purchasing an additional 2,399,862 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Mueller Industries by 194.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock worth $135,938,000 after purchasing an additional 1,903,745 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Mueller Industries by 99.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,666,651 shares of the industrial products company’s stock worth $78,583,000 after acquiring an additional 831,686 shares in the last quarter. LSV Asset Management boosted its stake in Mueller Industries by 82.6% in the 4th quarter. LSV Asset Management now owns 1,435,300 shares of the industrial products company’s stock worth $67,674,000 after purchasing an additional 649,250 shares in the last quarter. Finally, Gates Capital Management Inc. lifted its position in Mueller Industries by 53.4% during the 3rd quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock worth $89,947,000 after acquiring an additional 416,700 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now owns 104,214 shares in the company, valued at $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The disclosure for this sale can be found here. In the last three months, insiders sold 108,716 shares of company stock worth $5,806,311. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $1.19 during trading hours on Monday, reaching $58.00. 442,658 shares of the company were exchanged, compared to its average volume of 677,874. The stock’s fifty day moving average is $53.25 and its 200 day moving average is $47.85. The firm has a market cap of $6.59 billion, a PE ratio of 11.38 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $59.59.

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

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Mueller Industries’s payout ratio is 16.03%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MLI. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

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.