Mueller Industries, Inc. $MLI Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 88.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,646 shares of the industrial products company’s stock after selling 12,392 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Mueller Industries were worth $166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLI. JFS Wealth Advisors LLC boosted its holdings in shares of Mueller Industries by 121.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in Mueller Industries by 228.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 215 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Mueller Industries during the third quarter valued at about $38,000. Employees Retirement System of Texas purchased a new stake in Mueller Industries during the second quarter valued at about $34,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Mueller Industries during the third quarter worth about $46,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Mueller Industries

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

Mueller Industries Price Performance

Shares of MLI opened at $118.00 on Friday. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $139.29. The stock’s 50-day moving average is $123.03 and its two-hundred day moving average is $109.89. The stock has a market cap of $13.09 billion, a PE ratio of 17.18 and a beta of 1.03.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 13th. Mueller Industries’s dividend payout ratio is 14.56%.

Mueller Industries 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.