Mueller Industries, Inc. (MLI) Holdings Lifted by Neuberger Berman Group LLC
Neuberger Berman Group LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,203,724 shares of the industrial products company’s stock after purchasing an additional 18,222 shares during the quarter. Neuberger Berman Group LLC owned 2.08% of Mueller Industries worth $42,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Magnetar Financial LLC purchased a new position in shares of Mueller Industries during the 3rd quarter valued at $206,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Mueller Industries during the 3rd quarter valued at $227,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Mueller Industries during the 2nd quarter valued at $206,000. Amalgamated Bank lifted its position in shares of Mueller Industries by 5.2% during the 2nd quarter. Amalgamated Bank now owns 7,949 shares of the industrial products company’s stock valued at $242,000 after buying an additional 394 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Mueller Industries during the 2nd quarter valued at $266,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.
Mueller Industries, Inc. (MLI) opened at $35.55 on Wednesday. Mueller Industries, Inc. has a 1 year low of $27.72 and a 1 year high of $43.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.67 and a current ratio of 2.83. The company has a market capitalization of $2,078.10, a price-to-earnings ratio of 21.27 and a beta of 1.41.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Mueller Industries’s dividend payout ratio (DPR) is 23.67%.
In related news, Director Charles P. Herzog, Jr. acquired 3,624 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average price of $34.72 per share, with a total value of $125,825.28. Following the acquisition, the director now owns 3,624 shares of the company’s stock, valued at approximately $125,825.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 2,000 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $33.15, for a total value of $66,300.00. Following the sale, the director now directly owns 45,607 shares in the company, valued at approximately $1,511,872.05. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.
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Mueller Industries Company Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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