Mueller Industries, Inc. $MLI Stock Position Lowered by American Century Companies Inc.

American Century Companies Inc. reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,361,496 shares of the industrial products company’s stock after selling 169,118 shares during the period. American Century Companies Inc. owned approximately 1.23% of Mueller Industries worth $137,661,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLI. Savant Capital LLC raised its stake in shares of Mueller Industries by 239.2% in the 3rd quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock valued at $1,430,000 after acquiring an additional 9,975 shares in the last quarter. Ballast Asset Management LP bought a new stake in Mueller Industries during the third quarter worth approximately $3,057,000. Entropy Technologies LP acquired a new position in Mueller Industries during the second quarter valued at approximately $658,000. Ariose Capital Management Ltd bought a new position in shares of Mueller Industries in the third quarter valued at approximately $3,904,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Mueller Industries in the third quarter worth $1,503,000. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the transaction, the director directly owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries 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 directly owned 41,645 shares of the company’s stock, valued at $4,954,505.65. This represents a 9.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MLI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries presently has a consensus rating of “Buy”.

Mueller Industries Trading Down 2.0%

NYSE MLI opened at $118.00 on Monday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 17.18 and a beta of 1.04. The stock’s 50 day moving average is $123.03 and its two-hundred day moving average is $110.01. 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 disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.35 dividend. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Mueller Industries’s payout ratio is presently 14.56%.

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.