Inceptionr LLC Invests $757,000 in Mueller Industries, Inc. $MLI

Inceptionr LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,487 shares of the industrial products company’s stock, valued at approximately $757,000.

A number of other large investors have also added to or reduced their stakes in MLI. Savant Capital LLC boosted its position in Mueller Industries by 239.2% in the 3rd quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock valued at $1,430,000 after buying an additional 9,975 shares during the last quarter. Ballast Asset Management LP purchased a new stake in shares of Mueller Industries during the third quarter worth about $3,057,000. Entropy Technologies LP purchased a new stake in shares of Mueller Industries during the second quarter worth about $658,000. Ariose Capital Management Ltd acquired a new position in shares of Mueller Industries in the third quarter worth about $3,904,000. Finally, Lecap Asset Management Ltd. purchased a new position in Mueller Industries in the third quarter valued at about $1,503,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mueller Industries Stock Down 0.0%

Shares of Mueller Industries stock opened at $114.57 on Tuesday. The business has a 50-day moving average price of $122.90 and a 200 day moving average price of $111.08. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The firm has a market cap of $12.71 billion, a P/E ratio of 16.68 and a beta of 1.04.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued 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 yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Mueller Industries’s dividend payout ratio is presently 14.56%.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 4,430 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the transaction, the director directly owned 41,645 shares in the company, valued at approximately $4,954,505.65. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated 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 directly owned 90,664 shares of the company’s stock, valued at $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is currently owned by corporate insiders.

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.