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

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 44.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,796 shares of the industrial products company’s stock after selling 47,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Mueller Industries worth $5,847,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. denkapparat Operations GmbH grew its holdings in Mueller Industries by 70.5% during the 3rd quarter. denkapparat Operations GmbH now owns 11,230 shares of the industrial products company’s stock worth $1,135,000 after acquiring an additional 4,642 shares during the period. HighTower Advisors LLC grew its stake in shares of Mueller Industries by 11.0% during the third quarter. HighTower Advisors LLC now owns 21,598 shares of the industrial products company’s stock worth $2,184,000 after purchasing an additional 2,140 shares during the period. BTC Capital Management Inc. increased its holdings in Mueller Industries by 5.0% in the third quarter. BTC Capital Management Inc. now owns 7,880 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 372 shares during the last quarter. Freemont Management S.A. acquired a new position in Mueller Industries in the third quarter valued at about $566,000. Finally, Abich Financial Wealth Management LLC bought a new position in Mueller Industries during the third quarter worth about $47,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Up 1.6%

Shares of NYSE:MLI opened at $118.90 on Friday. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 17.31 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $139.29. The company’s fifty day simple moving average is $122.38 and its 200 day simple moving average is $108.47.

Mueller Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries has an average rating of “Buy”.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction 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 sale, the director directly owned 41,645 shares in the company, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the transaction, the director owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,664 shares of company stock valued at $1,103,729. 2.70% of the stock is owned by 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.