Perbak Capital Partners LLP Purchases 4,801 Shares of Mueller Industries, Inc. $MLI

Perbak Capital Partners LLP boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 53.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,717 shares of the industrial products company’s stock after acquiring an additional 4,801 shares during the period. Perbak Capital Partners LLP’s holdings in Mueller Industries were worth $1,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. First Trust Advisors LP lifted its stake in Mueller Industries by 3.0% in the 3rd quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock worth $570,176,000 after purchasing an additional 166,218 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Mueller Industries by 3.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock valued at $232,900,000 after purchasing an additional 77,330 shares in the last quarter. LSV Asset Management increased its holdings in shares of Mueller Industries by 0.9% in the second quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock worth $153,649,000 after purchasing an additional 16,757 shares during the period. Norges Bank bought a new position in shares of Mueller Industries in the second quarter worth $127,287,000. Finally, UBS Group AG raised its position in shares of Mueller Industries by 837.0% in the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock worth $129,819,000 after buying an additional 1,146,919 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MLI shares. Wall Street Zen cut Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the sale, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the completion of the transaction, the director owned 90,664 shares of the company’s stock, valued at $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $109.70 on Friday. The company’s fifty day moving average price is $122.61 and its 200-day moving average price is $111.34. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 15.97 and a beta of 1.04. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $139.29.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.3%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) is presently 20.38%.

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.