Wedge Capital Management L L P NC Decreases Stake in Mueller Industries, Inc. $MLI

Wedge Capital Management L L P NC trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,143 shares of the industrial products company’s stock after selling 35,395 shares during the period. Wedge Capital Management L L P NC’s holdings in Mueller Industries were worth $14,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in Mueller Industries by 10.7% during the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after acquiring an additional 1,420 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after buying an additional 3,316 shares during the period. Acadian Asset Management LLC bought a new stake in Mueller Industries in the first quarter worth $524,000. Franklin Resources Inc. boosted its stake in Mueller Industries by 8.9% during the second quarter. Franklin Resources Inc. now owns 137,528 shares of the industrial products company’s stock worth $10,929,000 after buying an additional 11,246 shares during the period. Finally, Prudential Financial Inc. increased its position in Mueller Industries by 27.9% during the second quarter. Prudential Financial Inc. now owns 37,141 shares of the industrial products company’s stock valued at $3,251,000 after acquiring an additional 8,091 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLI. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Mueller Industries Trading Down 1.0%

Shares of Mueller Industries stock opened at $108.40 on Friday. The stock’s fifty day moving average price is $119.72 and its 200-day moving average price is $112.29. The firm has a market cap of $12.03 billion, a P/E ratio of 15.78 and a beta of 1.04. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $139.29.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.35 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. Mueller Industries’s dividend payout ratio (DPR) is currently 20.38%.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the business’s 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 sale, the director owned 90,664 shares in the company, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the company’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 transaction of $527,037.10. Following the transaction, the director owned 41,645 shares in the company, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is owned by company insiders.

Mueller Industries 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.