Fox Run Management L.L.C. Makes New Investment in Mueller Industries, Inc. $MLI

Fox Run Management L.L.C. acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,071 shares of the industrial products company’s stock, valued at approximately $1,220,000.

Several other hedge funds also recently made changes to their positions in the business. JFS Wealth Advisors LLC raised its position in shares of Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after buying an additional 138 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Mueller Industries by 228.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 215 shares during the period. Employees Retirement System of Texas acquired a new position in Mueller Industries in the 2nd quarter valued at $34,000. Root Financial Partners LLC bought a new stake in shares of Mueller Industries during the 3rd quarter valued at $38,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 261 shares during the period. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 4,430 shares of the company’s 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 transaction, the director directly owned 41,645 shares in the company, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their position. The SEC filing for this sale provides additional information. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

Mueller Industries stock opened at $118.65 on Thursday. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $139.29. The stock has a market capitalization of $13.17 billion, a P/E ratio of 17.27 and a beta of 1.03. The stock has a fifty day moving average of $122.82 and a 200-day moving average of $109.50.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 13th. 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 1.2%. Mueller Industries’s payout ratio is presently 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.