Dakota Wealth Management Invests $620,000 in Mueller Industries, Inc. $MLI

Dakota Wealth Management acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,404 shares of the industrial products company’s stock, valued at approximately $620,000.

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Mueller Industries by 181.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock worth $261,439,000 after acquiring an additional 1,666,891 shares during the last quarter. Norges Bank acquired a new position in Mueller Industries in the 2nd quarter valued at approximately $127,287,000. UBS Group AG raised its stake in shares of Mueller Industries by 837.0% during the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock valued at $129,819,000 after acquiring an additional 1,146,919 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Mueller Industries during the second quarter valued at $75,901,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position 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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MLI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen lowered 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, the company presently has an average rating of “Buy”.

Mueller Industries Stock Performance

NYSE:MLI opened at $107.94 on Tuesday. The company has a market capitalization of $11.93 billion, a PE ratio of 15.71 and a beta of 1.04. The company has a 50 day simple moving average of $119.22 and a two-hundred day simple moving average of $112.57. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid 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 dividend yield of 1.3%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. Mueller Industries’s payout ratio is currently 20.38%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction 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 directly owned 41,645 shares in the company, valued at $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. The transaction 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 Mueller Industries stock in a transaction 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 transaction, the director directly owned 90,664 shares of the company’s stock, valued at $10,581,395.44. This represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.70% of the company’s stock.

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.