Algert Global LLC Sells 44,116 Shares of Mueller Industries, Inc. $MLI

Key Points

• Algert Global LLC sold 44,116 shares of Mueller Industries (a 10.3% reduction), leaving it with 384,716 shares valued at about $38.9 million and making MLI its second-largest holding.
• Large institutions were net buyers this quarter—most notably AQR increased its stake by 181.4% to 2,585,693 shares (≈$261.4M)—and overall institutional ownership of MLI stands at about 94.5%.
• Mueller raised its quarterly dividend from $0.25 to $0.35 (annualized $1.40, ~1.3% yield), payable March 27 with an ex-dividend date of March 13.

Algert Global LLC cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,716 shares of the industrial products company's stock after selling 44,116 shares during the period. Mueller Industries makes up about 0.7% of Algert Global LLC's holdings, making the stock its 2nd biggest position. Algert Global LLC owned 0.35% of Mueller Industries worth $38,899,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MLI. Ameriprise Financial Inc. boosted its position in shares of Mueller Industries by 28.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 231,965 shares of the industrial products company's stock valued at $23,475,000 after purchasing an additional 51,527 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in Mueller Industries during the 3rd quarter worth about $14,469,000. Creative Planning lifted its stake in Mueller Industries by 26.0% during the third quarter. Creative Planning now owns 90,162 shares of the industrial products company's stock valued at $9,116,000 after buying an additional 18,618 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Mueller Industries by 82.1% during the third quarter. Lazard Asset Management LLC now owns 128,437 shares of the industrial products company's stock valued at $12,986,000 after buying an additional 57,904 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Mueller Industries by 181.4% in the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock worth $261,439,000 after buying an additional 1,666,891 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

NYSE:MLI opened at $109.70 on Friday. The stock has a market cap of $12.17 billion, a PE ratio of 15.97 and a beta of 1.04. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The stock's 50-day moving average is $122.61 and its two-hundred day moving average is $111.44.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.40 annualized dividend and a yield of 1.3%. This is a boost from Mueller Industries's previous quarterly dividend of $0.25. Mueller Industries's dividend payout ratio (DPR) is currently 14.56%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director directly owned 90,664 shares of the company's stock, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction on Friday, February 13th. The stock was 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 approximately $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MLI. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a report on Thursday, January 22nd. Wall Street Zen lowered 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 has an average rating of "Buy".

About Mueller Industries

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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