Cwm LLC Purchases 34,011 Shares of Mueller Industries, Inc. $MLI

Key Points

• Cwm LLC increased its stake in Mueller Industries by 45.4%, buying 34,011 shares to hold 108,958 shares worth about $12.51 million.
• Mueller Industries raised its quarterly dividend to $0.35 (annualized $1.40), a yield of 1.1% with a payout ratio of 20.38%.
• Institutional ownership is very high at 94.50%, while insiders own 2.30% and two directors (Scott Jay Goldman and John B. Hansen) recently sold shares, modestly reducing their positions.

Cwm LLC increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,958 shares of the industrial products company's stock after purchasing an additional 34,011 shares during the period. Cwm LLC owned approximately 0.10% of Mueller Industries worth $12,508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in Mueller Industries by 3.0% in the 3rd quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company's stock worth $570,176,000 after buying an additional 166,218 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Mueller Industries by 181.4% during 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 acquiring an additional 1,666,891 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Mueller Industries by 4.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,426,608 shares of the industrial products company's stock worth $283,452,000 after acquiring an additional 96,440 shares in the last quarter. UBS Group AG raised its stake in shares of Mueller Industries by 837.0% during the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock worth $129,819,000 after acquiring an additional 1,146,919 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Mueller Industries by 61.3% during the third quarter. Bank of America Corp DE now owns 1,183,143 shares of the industrial products company's stock worth $119,628,000 after acquiring an additional 449,619 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of the company'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 transaction of $527,037.10. Following the transaction, the director owned 41,645 shares in the company, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the company's 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 transaction, the director owned 90,664 shares in the company, valued at $10,581,395.44. This trade represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on MLI. 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 reissued a "buy (b)" rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Mueller Industries currently has a consensus rating of "Buy".

Mueller Industries Trading Up 3.2%

Shares of NYSE MLI opened at $122.06 on Friday. Mueller Industries, Inc. has a 12 month low of $67.91 and a 12 month high of $139.29. The firm has a market capitalization of $13.49 billion, a PE ratio of 17.77 and a beta of 1.07. The firm has a fifty day simple moving average of $115.64 and a two-hundred day simple moving average of $114.15.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.35 per share. This is a positive change from Mueller Industries's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is currently 20.38%.

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.

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