Mueller Industries, Inc. $MLI Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 88.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,344 shares of the industrial products company’s stock after purchasing an additional 4,853 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Mueller Industries were worth $1,187,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Mueller Industries by 10.7% during 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 boosted its stake in shares of 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 worth $17,563,000 after acquiring an additional 3,316 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Mueller Industries in the 1st quarter worth approximately $524,000. Franklin Resources Inc. grew its holdings in shares of Mueller Industries by 8.9% in the 2nd quarter. Franklin Resources Inc. now owns 137,528 shares of the industrial products company’s stock worth $10,929,000 after acquiring an additional 11,246 shares during the period. Finally, Prudential Financial Inc. increased its stake in Mueller Industries by 27.9% in the 2nd 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 in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Mueller Industries Trading Down 0.0%

Shares of MLI stock opened at $108.40 on Monday. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 15.78 and a beta of 1.04. The firm has a 50-day moving average price of $119.72 and a 200 day moving average price of $112.51. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29.

Mueller Industries Increases Dividend

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

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction that occurred 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 completion of the sale, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 completion of the sale, the director directly owned 90,664 shares of the company’s stock, valued at $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. Insiders own 2.70% of the company’s stock.

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.