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

Barclays PLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 343.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 owned about 0.17% of Mueller Industries worth $14,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the 2nd quarter worth $26,000. Federated Hermes Inc. purchased a new stake in Mueller Industries during the second quarter valued at about $28,000. GAMMA Investing LLC lifted its stake in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Larson Financial Group LLC lifted its stake in Mueller Industries by 61.7% during the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 of the company’s stock, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Mueller Industries Stock Performance

MLI stock opened at $82.48 on Monday. The firm has a market cap of $9.38 billion, a P/E ratio of 16.02 and a beta of 0.99. The firm’s fifty day moving average is $82.18 and its 200 day moving average is $70.78. Mueller Industries, Inc. has a 52 week low of $44.03 and a 52 week high of $96.81.

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

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.97%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

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.