111 Capital acquired a new stake in Mueller Industries, Inc. (NYSE:MLI – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,760 shares of the industrial products company’s stock, valued at approximately $537,000.
Several other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. raised its position in Mueller Industries by 0.4% in the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company’s stock valued at $213,160,000 after purchasing an additional 10,968 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Mueller Industries by 15.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company’s stock valued at $93,259,000 after purchasing an additional 166,012 shares during the last quarter. Systematic Financial Management LP raised its position in Mueller Industries by 1.0% in the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company’s stock valued at $72,875,000 after purchasing an additional 9,463 shares during the last quarter. Nuveen LLC bought a new position in Mueller Industries in the 1st quarter valued at $54,072,000. Finally, Epoch Investment Partners Inc. raised its position in Mueller Industries by 222.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company’s stock valued at $45,509,000 after purchasing an additional 412,564 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.
Mueller Industries Stock Down 0.1%
MLI stock opened at $100.46 on Monday. The company has a market cap of $11.12 billion, a P/E ratio of 15.95 and a beta of 1.02. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $102.75. The business has a fifty day moving average of $94.85 and a 200-day moving average of $83.52.
Mueller Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries’s payout ratio is 15.87%.
Insider Activity at Mueller Industries
In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the completion of the sale, the director directly owned 92,664 shares of the company’s stock, valued at $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $105.00.
Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.
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