Lingohr Asset Management GmbH Has $9.30 Million Position in Mueller Industries, Inc. $MLI

Lingohr Asset Management GmbH increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 2,061.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,954 shares of the industrial products company’s stock after purchasing an additional 87,699 shares during the quarter. Mueller Industries makes up approximately 2.2% of Lingohr Asset Management GmbH’s holdings, making the stock its 10th largest holding. Lingohr Asset Management GmbH owned about 0.08% of Mueller Industries worth $9,297,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Aviance Capital Partners LLC lifted its holdings in 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 worth $428,000 after buying an additional 97 shares during the period. Covestor Ltd raised its holdings in shares of Mueller Industries by 5.1% during the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 105 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Mueller Industries by 3.9% during the second 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. CW Advisors LLC lifted its stake in Mueller Industries by 4.0% in the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 140 shares during the period. Finally, Total Wealth Planning & Management Inc. boosted its holdings in Mueller Industries by 2.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $136.06 on Friday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $137.64. The firm has a 50-day moving average of $119.91 and a 200 day moving average of $105.17. The stock has a market cap of $15.10 billion, a P/E ratio of 20.31 and a beta of 1.04.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.25 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Mueller Industries’s dividend payout ratio is presently 14.93%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of Mueller Industries stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the transaction, the director owned 41,745 shares in the company, valued at approximately $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently 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.