Natixis Advisors LLC Buys 81,819 Shares of Mueller Industries, Inc. $MLI

Natixis Advisors LLC lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 264.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,731 shares of the industrial products company’s stock after purchasing an additional 81,819 shares during the quarter. Natixis Advisors LLC owned 0.10% of Mueller Industries worth $11,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MLI. JFS Wealth Advisors LLC increased its stake in Mueller Industries by 121.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Mueller Industries by 228.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after buying an additional 215 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Mueller Industries in the third quarter worth approximately $38,000. Employees Retirement System of Texas purchased a new stake in shares of Mueller Industries during the second quarter valued at approximately $34,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Mueller Industries during the third quarter valued at approximately $46,000. Institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,430 shares of the firm’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 value of $527,037.10. Following the sale, the director owned 41,645 shares in the company, valued at approximately $4,954,505.65. This trade represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 sale, the director directly owned 90,664 shares of the company’s stock, valued at approximately $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. Company insiders own 2.70% of the company’s stock.

Mueller Industries Stock Performance

MLI opened at $110.93 on Friday. The company’s 50-day simple moving average is $122.75 and its two-hundred day simple moving average is $111.23. The stock has a market capitalization of $12.31 billion, a P/E ratio of 16.15 and a beta of 1.04. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $139.29.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a 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 currently 14.56%.

Analysts Set New Price Targets

MLI has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.