Skandinaviska Enskilda Banken AB publ Has $5.85 Million Holdings in Mueller Industries, Inc. $MLI

Skandinaviska Enskilda Banken AB publ cut its position in Mueller Industries, Inc. (NYSE:MLI) by 44.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,796 shares of the industrial products company’s stock after selling 47,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Mueller Industries were worth $5,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MLI. Root Financial Partners LLC bought a new position in Mueller Industries during the third quarter worth about $38,000. Employees Retirement System of Texas acquired a new position in Mueller Industries in the 2nd quarter valued at $34,000. Atlantic Union Bankshares Corp bought a new position in Mueller Industries during the 3rd quarter worth $46,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Mueller Industries during the third quarter worth $47,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Mueller Industries by 108.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 261 shares during the period. 94.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MLI has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed 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, According to MarketBeat, Mueller Industries has a consensus rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the sale, the director owned 90,664 shares in the company, valued at $10,581,395.44. The trade was a 1.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,664 shares of company stock worth $1,103,729. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Stock Up 1.6%

NYSE:MLI opened at $118.90 on Friday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29. The stock’s 50-day simple moving average is $122.38 and its 200 day simple moving average is $108.47. The firm has a market capitalization of $13.20 billion, a PE ratio of 17.31 and a beta of 1.03.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. Mueller Industries’s dividend payout ratio is currently 14.56%.

About Mueller Industries

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.