Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Mueller Industries, Inc. $MLI

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 65.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,689 shares of the industrial products company’s stock after selling 20,001 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Mueller Industries were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Mueller Industries by 3.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock worth $232,900,000 after purchasing an additional 77,330 shares during the period. LSV Asset Management boosted its position in shares of 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 valued at $153,649,000 after acquiring an additional 16,757 shares during the period. Norges Bank purchased a new position in Mueller Industries during the second quarter valued at approximately $127,287,000. Qube Research & Technologies Ltd bought a new stake in Mueller Industries during the 2nd quarter worth approximately $75,901,000. Finally, AQR Capital Management LLC increased its holdings in Mueller Industries by 56.1% during the 2nd quarter. AQR Capital Management LLC now owns 918,802 shares of the industrial products company’s stock worth $73,017,000 after acquiring an additional 330,374 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, 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, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares in the company, valued at approximately $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

Mueller Industries stock opened at $136.06 on Friday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $137.64. The stock’s 50 day simple moving average is $119.91 and its two-hundred day simple moving average is $105.32. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 20.31 and a beta of 1.04.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

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.