Impact Partnership Wealth LLC Acquires Shares of 3,817 Mueller Industries, Inc. $MLI

Impact Partnership Wealth LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,817 shares of the industrial products company’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mueller Industries by 3.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock valued at $232,900,000 after purchasing an additional 77,330 shares during the period. LSV Asset Management raised its stake in Mueller Industries by 0.9% in the second quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock worth $153,649,000 after buying an additional 16,757 shares in the last quarter. Norges Bank purchased a new stake in shares of Mueller Industries during the 2nd quarter worth $127,287,000. Qube Research & Technologies Ltd bought a new stake in Mueller Industries during the second quarter valued at about $75,901,000. Finally, AQR Capital Management LLC lifted its position in shares of Mueller Industries by 56.1% during the second quarter. AQR Capital Management LLC now owns 918,802 shares of the industrial products company’s stock valued at $73,017,000 after buying an additional 330,374 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Mueller Industries Trading Down 1.0%

NYSE MLI opened at $136.06 on Friday. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 20.31 and a beta of 1.04. The stock has a 50-day moving average of $119.91 and a 200 day moving average of $105.17. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $137.64.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

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.