Barlow Wealth Partners LLC Sells 44,211 Shares of Mueller Industries, Inc. $MLI

Barlow Wealth Partners LLC trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 254,963 shares of the industrial products company’s stock after selling 44,211 shares during the period. Mueller Industries makes up approximately 3.4% of Barlow Wealth Partners LLC’s investment portfolio, making the stock its 9th largest holding. Barlow Wealth Partners LLC owned 0.23% of Mueller Industries worth $31,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Spire Wealth Management raised its position in Mueller Industries by 5.5% in the 4th quarter. Spire Wealth Management now owns 4,974 shares of the industrial products company’s stock valued at $571,000 after buying an additional 259 shares during the last quarter. Baron Wealth Management LLC boosted its position in Mueller Industries by 4.1% during the 4th quarter. Baron Wealth Management LLC now owns 3,578 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 142 shares during the last quarter. Eastern Bank bought a new position in shares of Mueller Industries during the 4th quarter worth approximately $53,000. Pallas Capital Advisors LLC raised its holdings in shares of Mueller Industries by 88.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 10,344 shares of the industrial products company’s stock valued at $1,187,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $620,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the sale, the director directly owned 90,664 shares in the company, valued at $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. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Mueller Industries Stock Down 0.0%

MLI stock opened at $108.40 on Monday. The business has a 50 day moving average price of $119.72 and a two-hundred day moving average price of $112.51. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 15.78 and a beta of 1.04. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.35 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) is 20.38%.

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.