Mueller Industries, Inc. $MLI Shares Bought by Archford Capital Strategies LLC

Archford Capital Strategies LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI) by 56.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,942 shares of the industrial products company’s stock after acquiring an additional 5,363 shares during the quarter. Archford Capital Strategies LLC’s holdings in Mueller Industries were worth $1,715,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its position in shares of Mueller Industries by 181.4% during the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock valued at $261,439,000 after acquiring an additional 1,666,891 shares during the last quarter. Norges Bank acquired a new position in shares of Mueller Industries in the 2nd quarter worth approximately $127,287,000. UBS Group AG lifted its holdings in shares of Mueller Industries by 837.0% in the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock worth $129,819,000 after acquiring an additional 1,146,919 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Mueller Industries during the 2nd quarter worth approximately $75,901,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Mueller Industries in the 3rd quarter valued at approximately $51,789,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLI. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research 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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 4,430 shares of the business’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 completion of the transaction, the director directly owned 41,645 shares of the company’s stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. The transaction was disclosed in a document filed 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 dated 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 approximately $10,581,395.44. This trade represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.70% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI stock opened at $110.65 on Wednesday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The company has a 50 day moving average price of $118.81 and a 200 day moving average price of $112.66. The stock has a market capitalization of $12.23 billion, a P/E ratio of 16.11 and a beta of 1.04.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a $0.35 dividend. The ex-dividend date was Friday, March 13th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. Mueller Industries’s payout ratio 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.