Y Intercept Hong Kong Ltd Has $3.65 Million Stake in Mueller Industries, Inc. $MLI

Y Intercept Hong Kong Ltd reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 68.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,082 shares of the industrial products company’s stock after selling 76,972 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Mueller Industries were worth $3,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Employees Retirement System of Texas acquired a new position in Mueller Industries during the 2nd quarter worth approximately $34,000. Root Financial Partners LLC acquired a new position in Mueller Industries during the third quarter worth $38,000. Northwestern Mutual Wealth Management Co. grew its position in Mueller Industries by 108.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 261 shares in the last quarter. True Wealth Design LLC increased its stake in Mueller Industries by 5,691.7% in the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $70,000 after buying an additional 683 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in Mueller Industries during the 2nd quarter worth about $79,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $133.83 on Tuesday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $135.08. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 19.97 and a beta of 1.04. The business has a fifty day simple moving average of $117.54 and a two-hundred day simple moving average of $104.05.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.25 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.00 annualized dividend and a yield of 0.7%. Mueller Industries’s payout ratio is 14.93%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average 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.