Y Intercept Hong Kong Ltd Has $3.65 Million Stock Holdings in Mueller Industries, Inc. $MLI

Y Intercept Hong Kong Ltd reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 68.1% in the 3rd quarter, Holdings Channel reports. The firm owned 36,082 shares of the industrial products company’s stock after selling 76,972 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Mueller Industries were worth $3,648,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Mueller Industries in the second quarter worth about $127,287,000. Qube Research & Technologies Ltd bought a new position in Mueller Industries in the 2nd quarter valued at approximately $75,901,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Mueller Industries in the second quarter valued at approximately $54,751,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Mueller Industries during the third quarter worth $51,789,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Mueller Industries during the second quarter worth $36,974,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Thursday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $133.83 on Tuesday. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 19.97 and a beta of 1.04. The business’s 50-day moving average is $117.54 and its 200-day moving average is $104.05. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $135.08.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.00 annualized dividend and a yield of 0.7%. Mueller Industries’s dividend payout ratio is currently 14.93%.

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. This trade represents a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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.