Mueller Industries, Inc. $MLI Shares Sold by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC lessened its stake in Mueller Industries, Inc. (NYSE:MLI) by 86.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,863 shares of the industrial products company’s stock after selling 25,244 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Mueller Industries were worth $391,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC raised its position in 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 valued at $31,000 after acquiring an additional 215 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in Mueller Industries in the 2nd quarter worth approximately $34,000. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $38,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 261 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Mueller Industries during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Mueller Industries stock opened at $118.65 on Thursday. The stock has a market capitalization of $13.17 billion, a P/E ratio of 17.27 and a beta of 1.03. The company’s fifty day moving average price is $122.82 and its 200 day moving average price is $109.50. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $139.29.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.35 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. Mueller Industries’s payout ratio is currently 14.56%.

Analyst Ratings Changes

MLI has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction dated 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 directly owned 41,645 shares in the company, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the business’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 sale, the director owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.70% of the company’s stock.

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.