Mueller Industries, Inc. $MLI Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 92.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,774 shares of the industrial products company’s stock after acquiring an additional 5,166 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Mueller Industries were worth $1,284,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC grew its position in Mueller Industries by 121.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Mueller Industries by 228.7% in the 3rd 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. Employees Retirement System of Texas bought a new position in Mueller Industries in the 2nd quarter worth approximately $34,000. Root Financial Partners LLC acquired a new stake in Mueller Industries in the 3rd quarter valued at approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MLI shares. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries presently has an average rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,430 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s 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 transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

Shares of MLI opened at $110.14 on Tuesday. The business’s 50-day moving average is $121.26 and its 200-day moving average is $112.13. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 16.03 and a beta of 1.04.

Mueller Industries Increases Dividend

The business 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 is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. Mueller Industries’s dividend payout ratio is 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.