Marshall Financial Group LLC Makes New $837,000 Investment in Mueller Industries, Inc. $MLI

Marshall Financial Group LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,294 shares of the industrial products company’s stock, valued at approximately $837,000.

A number of other institutional investors have also modified their holdings of the stock. First Trust Advisors LP lifted its position in shares of Mueller Industries by 3.0% during the third quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock worth $570,176,000 after purchasing an additional 166,218 shares during the last quarter. AQR Capital Management LLC increased its holdings in Mueller Industries by 181.4% in the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock valued at $261,439,000 after buying an additional 1,666,891 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Mueller Industries by 3.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock valued at $232,900,000 after buying an additional 77,330 shares during the last quarter. Norges Bank acquired a new stake in Mueller Industries during the second quarter valued at approximately $127,287,000. Finally, UBS Group AG raised its stake in Mueller Industries by 837.0% during the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock valued at $129,819,000 after buying an additional 1,146,919 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE MLI opened at $110.14 on Tuesday. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $139.29. The company has a 50-day simple moving average of $121.26 and a 200-day simple moving average of $112.13. The firm has a market capitalization of $12.22 billion, a PE ratio of 16.03 and a beta of 1.04.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 13th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. Mueller Industries’s payout ratio is presently 20.38%.

Wall Street Analyst Weigh In

MLI has been the subject of several research reports. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has a consensus rating of “Buy”.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the sale, the director owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the transaction, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. This represents a 9.61% decrease in their position. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.