Jackson Hole Capital Partners LLC Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Jackson Hole Capital Partners LLC purchased a new position in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,800 shares of the industrial products company’s stock, valued at approximately $368,000.

Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp lifted its stake in Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC purchased a new stake in shares of Mueller Industries during the 3rd quarter valued at about $30,000. Adirondack Trust Co. purchased a new stake in shares of Mueller Industries during the 3rd quarter valued at about $45,000. Finally, Versant Capital Management Inc raised its position in shares of Mueller Industries by 100.0% during the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated 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 directly owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated 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 directly owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,280 shares of company stock worth $2,804,350. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

MLI has been the topic of several recent research reports. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Mueller Industries Stock Down 1.8 %

NYSE:MLI traded down $1.08 during mid-day trading on Friday, hitting $57.33. 684,601 shares of the stock traded hands, compared to its average volume of 685,640. The stock 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 52 week low of $34.08 and a 52 week high of $59.59. The firm’s 50 day moving average is $52.29 and its two-hundred day moving average is $46.86.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. The company 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 company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is presently 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.