Dakota Wealth Management Takes Position in Mueller Industries, Inc. $MLI

Dakota Wealth Management purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,404 shares of the industrial products company’s stock, valued at approximately $620,000.

Several other large investors have also made changes to their positions in the company. JFS Wealth Advisors LLC increased its stake in Mueller Industries by 121.1% in the third 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 lifted its stake 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 worth $31,000 after purchasing an additional 215 shares during the last quarter. Root Financial Partners LLC bought a new stake in Mueller Industries during the third quarter worth $38,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Mueller Industries in the 3rd quarter valued at $46,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Mueller Industries in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,430 shares of the firm’s stock in a transaction 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 sale, the director 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 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 business’s stock in a transaction 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 in the company, valued at $10,581,395.44. This represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MLI shares. Wall Street Zen cut Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed 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 data from MarketBeat, the stock has a consensus rating of “Buy”.

Mueller Industries Price Performance

MLI stock opened at $107.94 on Tuesday. The company has a 50 day simple moving average of $119.22 and a 200 day simple moving average of $112.57. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of 15.71 and a beta of 1.04. 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 announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. Mueller Industries’s payout ratio is presently 20.38%.

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.