SG Americas Securities LLC Purchases 87,459 Shares of Mueller Industries, Inc. $MLI

SG Americas Securities LLC lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2,599.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,823 shares of the industrial products company’s stock after buying an additional 87,459 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Mueller Industries worth $10,426,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MLI. Savant Capital LLC raised its stake in Mueller Industries by 239.2% during the 3rd quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock valued at $1,430,000 after purchasing an additional 9,975 shares during the period. Ballast Asset Management LP bought a new position in Mueller Industries in the 3rd quarter worth approximately $3,057,000. Ariose Capital Management Ltd purchased a new stake in Mueller Industries during the 3rd quarter valued at approximately $3,904,000. Riggs Asset Managment Co. Inc. purchased a new stake in Mueller Industries during the 3rd quarter valued at approximately $7,158,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Mueller Industries during the third quarter valued at approximately $1,503,000. Institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MLI. Wall Street Zen downgraded 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 report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Insiders Place Their Bets

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

Mueller Industries Price Performance

NYSE MLI opened at $108.40 on Monday. The stock has a market capitalization of $11.98 billion, a PE ratio of 15.78 and a beta of 1.04. The business has a 50 day simple moving average of $119.72 and a two-hundred day simple moving average of $112.51. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $139.29.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given 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 yield of 1.3%. The ex-dividend date was Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) is presently 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.