Barlow Wealth Partners LLC Sells 44,211 Shares of Mueller Industries, Inc. $MLI

Barlow Wealth Partners LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,963 shares of the industrial products company’s stock after selling 44,211 shares during the period. Mueller Industries comprises approximately 3.4% of Barlow Wealth Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Barlow Wealth Partners LLC’s holdings in Mueller Industries were worth $31,513,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MLI. NewEdge Advisors LLC raised its stake in Mueller Industries by 10.7% in the 1st quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock valued at $1,121,000 after acquiring an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after purchasing an additional 3,316 shares during the last quarter. Acadian Asset Management LLC bought a new position in Mueller Industries during the first quarter worth $524,000. Franklin Resources Inc. increased its holdings in shares of Mueller Industries by 8.9% in the second quarter. Franklin Resources Inc. now owns 137,528 shares of the industrial products company’s stock valued at $10,929,000 after purchasing an additional 11,246 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Mueller Industries by 27.9% in the second quarter. Prudential Financial Inc. now owns 37,141 shares of the industrial products company’s stock valued at $3,251,000 after purchasing an additional 8,091 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Trading Down 0.0%

Shares of MLI stock opened at $108.40 on Monday. The stock has a market cap of $11.98 billion, a P/E ratio of 15.78 and a beta of 1.04. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $139.29. The stock has a 50 day simple moving average of $119.72 and a 200 day simple moving average of $112.51.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.35 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) is currently 20.38%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,430 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the sale, the director owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the sale, the director owned 90,664 shares in the company, valued at $10,581,395.44. This represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

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