Barclays PLC Buys 152,780 Shares of Mueller Industries, Inc. (NYSE:MLI)

Barclays PLC grew its stake in Mueller Industries, Inc. (NYSE:MLI) by 343.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,206 shares of the industrial products company’s stock after purchasing an additional 152,780 shares during the quarter. Barclays PLC’s holdings in Mueller Industries were worth $14,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MLI. Orion Portfolio Solutions LLC increased its position in shares of Mueller Industries by 42.5% during the third quarter. Orion Portfolio Solutions LLC now owns 46,747 shares of the industrial products company’s stock valued at $3,464,000 after buying an additional 13,933 shares during the period. XTX Topco Ltd bought a new stake in Mueller Industries during the 3rd quarter valued at approximately $874,000. EP Wealth Advisors LLC purchased a new position in shares of Mueller Industries during the 3rd quarter worth approximately $245,000. Weiss Asset Management LP bought a new position in shares of Mueller Industries in the 3rd quarter worth approximately $299,000. Finally, State Street Corp lifted its stake in shares of Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $82.48 on Monday. Mueller Industries, Inc. has a 1 year low of $44.03 and a 1 year high of $96.81. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 16.02 and a beta of 0.99. The company has a 50-day moving average of $82.18 and a 200 day moving average of $70.78.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The company’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Analyst Ratings Changes

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, December 11th.

About Mueller Industries

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.