Mueller Industries, Inc. $MLI Shares Acquired by AlphaQuest LLC

AlphaQuest LLC grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 120.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,737 shares of the industrial products company’s stock after buying an additional 23,865 shares during the quarter. Mueller Industries accounts for about 0.3% of AlphaQuest LLC’s investment portfolio, making the stock its 26th largest holding. AlphaQuest LLC’s holdings in Mueller Industries were worth $4,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Mueller Industries by 3.4% during 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 acquiring an additional 77,330 shares in the last quarter. LSV Asset Management increased its stake in Mueller Industries by 0.9% during the second quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock valued at $153,649,000 after purchasing an additional 16,757 shares during the last quarter. Norges Bank acquired a new stake in shares of Mueller Industries during the second quarter worth $127,287,000. Qube Research & Technologies Ltd acquired a new stake in shares of Mueller Industries during the second quarter worth $75,901,000. Finally, AQR Capital Management LLC lifted its position in shares of Mueller Industries by 56.1% in the 2nd quarter. AQR Capital Management LLC now owns 918,802 shares of the industrial products company’s stock worth $73,017,000 after buying an additional 330,374 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries presently has an average rating of “Buy”.

Mueller Industries Stock Performance

Shares of MLI opened at $137.12 on Friday. The stock’s fifty day moving average is $119.32 and its 200-day moving average is $104.82. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 20.47 and a beta of 1.04. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $137.64.

Mueller Industries Dividend Announcement

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

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by insiders.

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.