Nordea Investment Management AB Has $3.27 Million Holdings in Mueller Industries, Inc. $MLI

Nordea Investment Management AB cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,239 shares of the industrial products company’s stock after selling 5,017 shares during the period. Nordea Investment Management AB’s holdings in Mueller Industries were worth $3,274,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MLI. Sagespring Wealth Partners LLC acquired a new stake in shares of Mueller Industries in the fourth quarter worth about $223,000. Riversedge Advisors LLC increased its holdings in shares of Mueller Industries by 17.4% during the 4th quarter. Riversedge Advisors LLC now owns 3,806 shares of the industrial products company’s stock valued at $437,000 after acquiring an additional 564 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Mueller Industries by 4.5% in the 4th quarter. Park Avenue Securities LLC now owns 5,930 shares of the industrial products company’s stock valued at $681,000 after acquiring an additional 253 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Mueller Industries by 11.9% in the 4th quarter. GAMMA Investing LLC now owns 1,827 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 195 shares in the last quarter. Finally, Finivi Inc. lifted its holdings in Mueller Industries by 3.6% in the 3rd quarter. Finivi Inc. now owns 12,359 shares of the industrial products company’s stock worth $1,250,000 after purchasing an additional 429 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Down 1.0%

MLI stock opened at $108.40 on Friday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29. The company has a market cap of $12.03 billion, a PE ratio of 15.78 and a beta of 1.04. The business’s 50-day simple moving average is $119.72 and its 200 day simple moving average is $112.29.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.35 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) is presently 20.38%.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the sale, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. The sale was disclosed in a filing with the SEC, 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 directly owned 90,664 shares in the company, valued at $10,581,395.44. This trade represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MLI has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. Wall Street Zen cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

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.