Inceptionr LLC Makes New Investment in Mueller Industries, Inc. $MLI

Inceptionr LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,487 shares of the industrial products company’s stock, valued at approximately $757,000.

Other large investors have also modified their holdings of the company. JFS Wealth Advisors LLC grew its holdings in Mueller Industries by 121.1% in the third 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 during the period. Cary Street Partners Investment Advisory LLC raised its stake in Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 215 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $34,000. Root Financial Partners LLC acquired a new position in shares of Mueller Industries in the 3rd quarter valued at $38,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 buying an additional 261 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

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

Mueller Industries Stock Down 0.0%

MLI opened at $114.57 on Tuesday. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $139.29. The company has a 50 day moving average of $122.90 and a two-hundred day moving average of $111.08. The company has a market cap of $12.71 billion, a P/E ratio of 16.68 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. Shareholders of record on Friday, March 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 13th. Mueller Industries’s dividend payout ratio is 14.56%.

Mueller Industries 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.