Mueller Industries, Inc. $MLI Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 88,465 shares of the industrial products company’s stock after selling 6,360 shares during the period. Mueller Industries accounts for approximately 1.5% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 11th largest holding. Oliver Luxxe Assets LLC’s holdings in Mueller Industries were worth $10,156,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC boosted its stake in shares of Mueller Industries by 239.2% in the third quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock valued at $1,430,000 after purchasing an additional 9,975 shares during the period. Ballast Asset Management LP purchased a new stake in Mueller Industries during the 3rd quarter worth approximately $3,057,000. Entropy Technologies LP purchased a new stake in Mueller Industries during the 2nd quarter worth approximately $658,000. Ariose Capital Management Ltd acquired a new stake in Mueller Industries during the 3rd quarter worth approximately $3,904,000. Finally, Lecap Asset Management Ltd. acquired a new stake in Mueller Industries during the 3rd quarter worth approximately $1,503,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 2.0%

Shares of MLI opened at $107.77 on Friday. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 15.69 and a beta of 1.04. The firm’s fifty day simple moving average is $121.54 and its 200-day simple moving average is $111.93. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.3%. This is a boost 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 currently 20.38%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction dated Friday, February 13th. The stock was 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 of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director directly owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.70% of the stock is owned by company insiders.

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.