Natixis Advisors LLC Increases Stock Holdings in Mueller Industries, Inc. $MLI

Natixis Advisors LLC grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 264.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,731 shares of the industrial products company’s stock after purchasing an additional 81,819 shares during the quarter. Natixis Advisors LLC’s holdings in Mueller Industries were worth $11,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MLI. Grantham Mayo Van Otterloo & Co. LLC grew its position in Mueller Industries by 33.1% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 46,202 shares of the industrial products company’s stock valued at $4,671,000 after buying an additional 11,484 shares during the period. Blair William & Co. IL raised its position in Mueller Industries by 8.9% in the third quarter. Blair William & Co. IL now owns 14,464 shares of the industrial products company’s stock worth $1,462,000 after acquiring an additional 1,181 shares during the period. First Trust Advisors LP raised its position in Mueller Industries by 3.0% in the third quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock worth $570,176,000 after acquiring an additional 166,218 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Mueller Industries during the 3rd quarter worth $72,000. Finally, Barclays PLC boosted its stake in shares of Mueller Industries by 158.3% during the 3rd quarter. Barclays PLC now owns 236,312 shares of the industrial products company’s stock worth $23,894,000 after acquiring an additional 144,821 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 2.6%

NYSE MLI opened at $110.93 on Friday. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $139.29. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 16.15 and a beta of 1.04. The company’s 50 day moving average is $122.75 and its two-hundred day moving average is $111.23.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.35 per share. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. Mueller Industries’s dividend payout ratio is presently 14.56%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the completion of the sale, the director owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, 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 SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Mueller Industries

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.