Marshall Financial Group LLC Purchases Shares of 7,294 Mueller Industries, Inc. $MLI

Marshall Financial Group LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,294 shares of the industrial products company’s stock, valued at approximately $837,000.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP grew its holdings in Mueller Industries by 3.0% in the third quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock valued at $570,176,000 after purchasing an additional 166,218 shares during the period. AQR Capital Management LLC raised its stake in Mueller Industries by 181.4% during the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock worth $261,439,000 after purchasing an additional 1,666,891 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Mueller Industries by 3.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock worth $232,900,000 after purchasing an additional 77,330 shares during the period. Norges Bank acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $127,287,000. Finally, UBS Group AG boosted its holdings in shares of Mueller Industries by 837.0% in the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock valued at $129,819,000 after purchasing an additional 1,146,919 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the 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 approximately $4,954,505.65. This trade represents a 9.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Price Performance

NYSE:MLI opened at $110.14 on Tuesday. The firm has a 50-day moving average of $121.26 and a two-hundred day moving average of $112.13. The stock has a market cap of $12.22 billion, a P/E ratio of 16.03 and a beta of 1.04. 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 declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 13th. Mueller Industries’s payout ratio is presently 20.38%.

Wall Street Analyst Weigh In

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