Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 222,058 shares of the industrial products company’s stock after acquiring an additional 17,311 shares during the period. Mueller Industries accounts for approximately 2.3% of Barlow Wealth Partners Inc.’s holdings, making the stock its 15th biggest holding. Barlow Wealth Partners Inc.’s holdings in Mueller Industries were worth $18,040,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. acquired a new position in Mueller Industries during the 2nd quarter valued at approximately $28,000. Renaissance Technologies LLC grew its holdings in shares of Mueller Industries by 270.7% during the second quarter. Renaissance Technologies LLC now owns 55,600 shares of the industrial products company’s stock valued at $3,166,000 after buying an additional 40,600 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Mueller Industries by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,114 shares of the industrial products company’s stock valued at $576,000 after acquiring an additional 895 shares during the period. Hsbc Holdings PLC raised its stake in Mueller Industries by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 233 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Mueller Industries by 36.2% during the 2nd quarter. Sei Investments Co. now owns 132,970 shares of the industrial products company’s stock worth $7,571,000 after acquiring an additional 35,306 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Wednesday, December 11th.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.7 %

MLI opened at $82.71 on Wednesday. The firm has a 50 day moving average of $82.08 and a two-hundred day moving average of $75.39. The firm has a market capitalization of $9.41 billion, a PE ratio of 16.06 and a beta of 1.00. Mueller Industries, Inc. has a 12-month low of $46.43 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. The business’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.