Mueller Industries, Inc. $MLI Stock Holdings Lessened by William Blair Investment Management LLC

William Blair Investment Management LLC cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,994,875 shares of the industrial products company’s stock after selling 324,694 shares during the quarter. William Blair Investment Management LLC owned 1.80% of Mueller Industries worth $201,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aviance Capital Partners LLC boosted its position in shares of Mueller Industries by 2.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 4,235 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 97 shares during the period. Covestor Ltd boosted its holdings in shares of Mueller Industries by 5.1% in the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock worth $218,000 after buying an additional 105 shares during the period. UMB Bank n.a. increased its position in shares of Mueller Industries by 2.2% in the third quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock worth $545,000 after acquiring an additional 115 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Mueller Industries by 7.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,624 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 119 shares during the period. Finally, Wedbush Securities Inc. lifted its position in shares of Mueller Industries by 3.9% in the 2nd quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 134 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries has an average rating of “Buy”.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of the 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 transaction, the director owned 90,664 shares in the company, valued at $10,581,395.44. This represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction on Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the sale, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Trading Down 2.0%

NYSE MLI opened at $118.00 on Friday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $139.29. The firm’s fifty day simple moving average is $123.03 and its 200-day simple moving average is $109.89. The company has a market capitalization of $13.09 billion, a PE ratio of 17.18 and a beta of 1.03.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. Mueller Industries’s dividend payout ratio (DPR) is presently 14.56%.

Mueller Industries Company 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.