William Blair Investment Management LLC Has $201.70 Million Position in Mueller Industries, Inc. $MLI

William Blair Investment Management LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.0% in the third quarter, Holdings Channel reports. The firm owned 1,994,875 shares of the industrial products company’s stock after selling 324,694 shares during the period. William Blair Investment Management LLC’s holdings in Mueller Industries were worth $201,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Strategies Wealth Advisors LLC acquired a new position in Mueller Industries in the 3rd quarter valued at $223,000. Huntington National Bank grew its position in shares of Mueller Industries by 76.9% in the third quarter. Huntington National Bank now owns 6,429 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 2,795 shares during the last quarter. Argent Trust Co bought a new position in shares of Mueller Industries in the third quarter worth about $2,805,000. Handelsbanken Fonder AB lifted its position in shares of Mueller Industries by 11.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 31,148 shares of the industrial products company’s stock worth $3,149,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Banco Santander S.A. bought a new stake in Mueller Industries during the 3rd quarter valued at approximately $6,782,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 2.0%

MLI opened at $118.00 on Friday. The stock’s 50 day simple moving average is $123.03 and its 200-day simple moving average is $109.89. The stock has a market cap of $13.09 billion, a PE ratio of 17.18 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $139.29.

Mueller Industries Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. 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%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the director directly owned 90,664 shares of the company’s stock, valued at $10,581,395.44. This trade represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.