67,077 Shares in Mueller Industries, Inc. $MLI Bought by Banco Santander S.A.

Banco Santander S.A. bought a new stake in Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 67,077 shares of the industrial products company’s stock, valued at approximately $6,782,000. Banco Santander S.A. owned about 0.06% of Mueller Industries as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JFS Wealth Advisors LLC grew its stake 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 acquiring an additional 138 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Mueller Industries by 228.7% in 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 purchasing an additional 215 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $38,000. Employees Retirement System of Texas purchased a new position in shares of Mueller Industries during the 2nd quarter worth approximately $34,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MLI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries has an average rating of “Buy”.

Mueller Industries Stock Down 2.0%

MLI stock opened at $118.00 on Friday. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 17.18 and a beta of 1.03. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $139.29. The stock’s fifty day simple moving average is $123.03 and its 200-day simple moving average is $109.77.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.35 dividend. This is a positive change 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 yield of 1.2%. Mueller Industries’s dividend payout ratio (DPR) is presently 14.56%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the completion of the sale, the director directly owned 90,664 shares in the company, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The transaction 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 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 directly owned 41,645 shares in the company, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

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.