Advisors Management Group Inc. ADV Grows Stock Holdings in Mueller Industries, Inc. $MLI

Key Points

• Advisors Management Group Inc. ADV increased its stake in Mueller Industries by 29.8% in Q3 to 66,224 shares (about $6.7M), while other large funds including AQR (+181%), UBS (+837%) and First Trust also significantly raised positions, leaving institutional investors with ~94.5% ownership.
• Mueller raised its quarterly dividend to $0.35 from $0.25 (annualized $1.40, yield ~1.3%), with an ex-dividend date of March 13 and payment on March 27; the payout ratio is ~20.4%.
• Company insiders sold shares recently (Director Scott Jay Goldman sold 4,430 shares at ~$118.97 and Director John B. Hansen sold 1,000 at ~$116.71), with insiders owning about 2.7% overall; the stock trades near $110.55 with a market cap of ~$12.27B and a P/E of 16.09.

Advisors Management Group Inc. ADV raised its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,224 shares of the industrial products company's stock after acquiring an additional 15,200 shares during the period. Mueller Industries accounts for about 1.2% of Advisors Management Group Inc. ADV's holdings, making the stock its 26th biggest position. Advisors Management Group Inc. ADV owned 0.06% of Mueller Industries worth $6,696,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. First Trust Advisors LP boosted its holdings in Mueller Industries by 3.0% in the third quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company's stock valued at $570,176,000 after acquiring an additional 166,218 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Mueller Industries by 181.4% in the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock worth $261,439,000 after purchasing an additional 1,666,891 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Mueller Industries by 3.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company's stock valued at $232,900,000 after purchasing an additional 77,330 shares in the last quarter. Norges Bank acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $127,287,000. Finally, UBS Group AG grew its holdings in shares of Mueller Industries by 837.0% during the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock worth $129,819,000 after purchasing an additional 1,146,919 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Down 0.3%

Shares of NYSE:MLI opened at $110.55 on Thursday. The firm has a market cap of $12.27 billion, a PE ratio of 16.09 and a beta of 1.04. The company has a fifty day simple moving average of $122.09 and a 200 day simple moving average of $111.74. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $139.29.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. This is an increase from Mueller Industries's previous quarterly dividend of $0.25. Mueller Industries's payout ratio is presently 20.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MLI shares. Wall Street Zen downgraded shares of Mueller Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. 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.com, the stock presently has a consensus rating of "Buy".

Insider Buying and Selling

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 stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total value 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 represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.70% of the company's stock.

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.

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