Addison Capital Co Increases Stock Holdings in Mueller Industries, Inc. $MLI

Addison Capital Co boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,560 shares of the industrial products company’s stock after acquiring an additional 4,103 shares during the quarter. Mueller Industries comprises about 1.7% of Addison Capital Co’s holdings, making the stock its 17th largest holding. Addison Capital Co owned approximately 0.05% of Mueller Industries worth $5,820,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MLI. Employees Retirement System of Texas acquired a new stake in Mueller Industries during the 2nd quarter valued at $34,000. Root Financial Partners LLC purchased a new position in Mueller Industries in the 3rd quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. boosted its position in 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 last quarter. True Wealth Design LLC grew its stake in shares of Mueller Industries by 5,691.7% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 683 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Mueller Industries during the second quarter worth about $79,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.0%

MLI stock opened at $134.48 on Thursday. The stock’s 50 day simple moving average is $118.66 and its 200 day simple moving average is $104.60. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $135.66. The firm has a market cap of $14.93 billion, a P/E ratio of 20.07 and a beta of 1.04.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s dividend payout ratio is currently 14.93%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the sale, the director owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

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.