Intech Investment Management LLC Has $10.60 Million Holdings in Mueller Industries, Inc. $MLI

Intech Investment Management LLC grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 19.7% in the 3rd quarter, Holdings Channel reports. The fund owned 104,867 shares of the industrial products company’s stock after purchasing an additional 17,276 shares during the quarter. Intech Investment Management LLC’s holdings in Mueller Industries were worth $10,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JFS Wealth Advisors LLC raised its stake in Mueller Industries by 121.1% during the 3rd 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 last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Mueller Industries by 228.7% during the 3rd 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 bought a new position in shares of Mueller Industries during the 2nd quarter worth about $34,000. Root Financial Partners LLC acquired a new position in shares of Mueller Industries during the third quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 buying an additional 261 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 1.5%

NYSE:MLI opened at $120.41 on Friday. The firm has a market capitalization of $13.37 billion, a PE ratio of 17.53 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $139.29. The firm has a 50-day moving average price of $122.98 and a 200 day moving average price of $109.58.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. Mueller Industries’s payout ratio is currently 14.56%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction 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 completion of the transaction, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This trade represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the sale, the director owned 90,664 shares in the company, valued at $10,581,395.44. This represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is owned by company insiders.

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.