Aster Capital Management DIFC Ltd Reduces Stock Position in Mueller Industries, Inc. $MLI

Aster Capital Management DIFC Ltd trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 88.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,646 shares of the industrial products company’s stock after selling 12,392 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Mueller Industries were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MLI. JFS Wealth Advisors LLC increased its stake in shares of Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after buying an additional 138 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in 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 acquiring an additional 215 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Mueller Industries in the 2nd quarter worth about $34,000. Root Financial Partners LLC bought a new stake in shares of Mueller Industries in the 3rd quarter worth about $38,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Mueller Industries by 108.8% in the 2nd 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. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,430 shares of the company’s 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 in the company, valued at $4,954,505.65. This represents a 9.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total value 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. The trade was a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.70% of the company’s stock.

Mueller Industries Stock Down 2.0%

MLI opened at $118.00 on Friday. The company’s 50-day moving average price is $123.03 and its 200 day moving average price is $109.89. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 17.18 and a beta of 1.03.

Mueller Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MLI. Weiss Ratings reiterated 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 research report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries 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.