Parkside Financial Bank & Trust Raises Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Parkside Financial Bank & Trust increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 51.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,373 shares of the industrial products company’s stock after purchasing an additional 466 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Mueller Industries were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Meritage Portfolio Management boosted its position in Mueller Industries by 5.4% in the 3rd quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company’s stock valued at $396,000 after buying an additional 270 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 299 shares in the last quarter. Navellier & Associates Inc. lifted its stake in Mueller Industries by 4.5% during the third quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 301 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Mueller Industries by 5.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,239 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 337 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 56,280 shares of company stock valued at $2,804,350 in the last quarter. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Mueller Industries Stock Performance

Shares of MLI stock opened at $58.40 on Friday. The firm has a market capitalization of $6.63 billion, a PE ratio of 11.70 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $34.08 and a 1 year high of $59.59. The stock has a fifty day moving average of $52.13 and a two-hundred day moving average of $46.78.

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

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.37%. Mueller Industries’s payout ratio is 16.03%.

About Mueller Industries

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.