Focus Partners Advisor Solutions LLC Raises Holdings in Mueller Industries, Inc. $MLI

Focus Partners Advisor Solutions LLC grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 195.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,470 shares of the industrial products company’s stock after acquiring an additional 11,556 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Mueller Industries were worth $1,836,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MLI. Norges Bank acquired a new position in Mueller Industries during the 2nd quarter valued at approximately $127,287,000. Qube Research & Technologies Ltd purchased a new stake in shares of Mueller Industries during the second quarter valued at $75,901,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Mueller Industries in the 3rd quarter valued at $51,789,000. Cubist Systematic Strategies LLC purchased a new position in Mueller Industries in the 2nd quarter worth $36,974,000. Finally, HRT Financial LP purchased a new position in Mueller Industries in the 2nd quarter worth $30,442,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the completion of the transaction, the director owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Jay Goldman sold 4,430 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the sale, the director owned 41,645 shares in the company, valued at $4,954,505.65. This trade represents a 9.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MLI. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Mueller Industries Stock Down 1.6%

Mueller Industries stock opened at $116.81 on Friday. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 17.00 and a beta of 1.04. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $139.29. The business’s 50-day moving average price is $123.03 and its 200 day moving average price is $110.49.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 13th. Mueller Industries’s payout ratio is currently 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.