Barclays PLC Grows Stock Holdings in Mueller Industries, Inc. $MLI

Key Points

• Barclays PLC boosted its stake in Mueller Industries by 158.3% in Q3 to 236,312 shares (buying an additional 144,821 shares), representing about 0.21% of the company and worth roughly $23.9 million.
• Mueller increased its quarterly dividend to $0.35 (from $0.25), payable March 27 with an ex-dividend date of March 13, equivalent to a $1.40 annualized payout and about a 1.2% yield.
• Two directors sold a total of 5,430 shares in February (1,000 and 4,430 shares), while institutional investors own roughly 94.5% of the stock and company insiders hold about 2.7%.

Barclays PLC grew its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 158.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,312 shares of the industrial products company's stock after buying an additional 144,821 shares during the quarter. Barclays PLC owned 0.21% of Mueller Industries worth $23,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its position in Mueller Industries by 121.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company's stock valued at $25,000 after buying an additional 138 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company's stock worth $31,000 after acquiring an additional 215 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of Mueller Industries in the second quarter valued at $34,000. Root Financial Partners LLC purchased a new stake in Mueller Industries during the 3rd quarter worth about $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Mueller Industries by 108.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company's stock valued at $40,000 after buying an additional 261 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on MLI shares. Wall Street Zen cut shares of Mueller Industries from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Mueller Industries currently has a consensus rating of "Buy".

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred 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 sale, the director owned 90,664 shares of the company's stock, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Jay Goldman sold 4,430 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 41,645 shares in the company, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is owned by company insiders.

Mueller Industries Stock Performance

Shares of MLI opened at $113.87 on Thursday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 16.58 and a beta of 1.04. The firm has a 50-day simple moving average of $122.83 and a 200-day simple moving average of $111.23.

Mueller Industries Increases Dividend

The company 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 $0.35 dividend. The ex-dividend date is Friday, March 13th. This is an increase from Mueller Industries's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. Mueller Industries's payout ratio is 14.56%.

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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