MUFG Securities EMEA plc acquired a new stake in Mueller Industries, Inc. (NYSE:MLI – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 133,000 shares of the industrial products company’s stock, valued at approximately $15,268,000. MUFG Securities EMEA plc owned 0.12% of Mueller Industries as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Mueller Industries by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 10,515,780 shares of the industrial products company’s stock valued at $1,207,212,000 after purchasing an additional 260,306 shares during the period. First Trust Advisors LP increased its holdings in Mueller Industries by 3.0% in the third quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock valued at $570,176,000 after purchasing an additional 166,218 shares during the period. Geode Capital Management LLC increased its holdings in Mueller Industries by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 2,642,059 shares of the industrial products company’s stock valued at $303,359,000 after purchasing an additional 624,210 shares during the period. AQR Capital Management LLC increased its holdings in Mueller Industries by 181.4% in the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock valued at $261,439,000 after purchasing an additional 1,666,891 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Mueller Industries by 4.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,426,608 shares of the industrial products company’s stock valued at $283,452,000 after purchasing an additional 96,440 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.
Mueller Industries Trading Up 0.4%
Shares of MLI opened at $128.39 on Friday. The stock has a market capitalization of $14.20 billion, a P/E ratio of 16.80 and a beta of 1.13. The firm’s fifty day simple moving average is $125.98 and its two-hundred day simple moving average is $120.56. Mueller Industries, Inc. has a 12 month low of $72.16 and a 12 month high of $141.51.
Mueller Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. Mueller Industries’s dividend payout ratio is 18.32%.
Analyst Ratings Changes
MLI has been the subject of a number of recent research reports. Northcoast Research downgraded Mueller Industries from a “buy” rating to a “neutral” rating in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded Mueller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Mueller Industries presently has an average rating of “Moderate Buy”.
Read Our Latest Stock Report on Mueller Industries
Insider Buying and Selling
In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the sale, the chief executive officer owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.
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.
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