Barlow Wealth Partners Inc. Acquires New Shares in Mueller Industries, Inc. (NYSE:MLI)

Barlow Wealth Partners Inc. acquired a new position in Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 341,174 shares of the industrial products company’s stock, valued at approximately $16,086,000. Mueller Industries makes up 2.3% of Barlow Wealth Partners Inc.’s holdings, making the stock its 16th largest holding. Barlow Wealth Partners Inc. owned 0.30% of Mueller Industries as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Mueller Industries by 95.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,843 shares of the industrial products company’s stock valued at $55,158,000 after purchasing an additional 572,687 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Mueller Industries by 108.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,189 shares of the industrial products company’s stock valued at $339,000 after buying an additional 3,736 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Mueller Industries by 97.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 41,261 shares of the industrial products company’s stock valued at $1,945,000 after buying an additional 20,347 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Mueller Industries during the fourth quarter valued at about $313,000. Finally, Gallacher Capital Management LLC grew its stake in shares of Mueller Industries by 96.9% in the fourth quarter. Gallacher Capital Management LLC now owns 8,867 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 4,364 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Mueller Industries Price Performance

MLI traded down $0.32 on Wednesday, hitting $58.33. The company had a trading volume of 400,968 shares, compared to its average volume of 674,940. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $59.59. The stock has a fifty day simple moving average of $53.54 and a 200-day simple moving average of $47.68. The firm has a market capitalization of $6.63 billion, a P/E ratio of 11.69 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The business had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Activity

In other news, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,716 shares of company stock worth $5,806,311. Insiders own 2.80% of the company’s stock.

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.