Advisors Management Group Inc. ADV Sells 9,259 Shares of Mueller Industries, Inc. $MLI

Advisors Management Group Inc. ADV reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,965 shares of the industrial products company’s stock after selling 9,259 shares during the quarter. Mueller Industries comprises 1.2% of Advisors Management Group Inc. ADV’s holdings, making the stock its 24th biggest position. Advisors Management Group Inc. ADV owned 0.05% of Mueller Industries worth $6,540,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted 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 worth $261,439,000 after purchasing an additional 1,666,891 shares in the last quarter. Norges Bank acquired a new stake in shares of Mueller Industries during the second quarter worth about $127,287,000. UBS Group AG lifted its holdings in shares of Mueller Industries by 837.0% during the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock valued at $129,819,000 after purchasing an additional 1,146,919 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Mueller Industries in the second quarter valued at approximately $75,901,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Mueller Industries during the third quarter worth $51,789,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of MLI opened at $108.40 on Friday. The company’s 50-day moving average is $119.72 and its 200-day moving average is $112.41. The firm has a market capitalization of $12.03 billion, a PE ratio of 15.78 and a beta of 1.04. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. Mueller Industries’s payout ratio is presently 20.38%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred 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 sale, the director directly owned 90,664 shares in the company, 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 stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $118.97, for a total value of $527,037.10. Following the sale, the director directly owned 41,645 shares in the company, valued at $4,954,505.65. This represents a 9.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MLI has been the subject of a number of recent research reports. Wall Street Zen downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

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.