Barclays PLC Raises Holdings in Mueller Industries, Inc. (NYSE:MLI)

Barclays PLC lifted its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 343.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,206 shares of the industrial products company's stock after purchasing an additional 152,780 shares during the period. Barclays PLC owned approximately 0.17% of Mueller Industries worth $14,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Orion Portfolio Solutions LLC raised its holdings in 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 worth $3,464,000 after purchasing an additional 13,933 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Mueller Industries in the third quarter valued at $874,000. EP Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the 3rd quarter worth $245,000. Weiss Asset Management LP purchased a new stake in shares of Mueller Industries in the 3rd quarter worth about $299,000. Finally, State Street Corp grew its stake in 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 acquiring an additional 139,406 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares of the company's stock, valued at $7,886,404.26. This represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Mueller Industries Stock Performance

MLI stock traded up $1.58 on Monday, reaching $84.06. The company had a trading volume of 903,063 shares, compared to its average volume of 841,246. The company's fifty day moving average is $82.43 and its 200 day moving average is $70.96. The company has a market cap of $9.56 billion, a P/E ratio of 16.32 and a beta of 0.99. Mueller Industries, Inc. has a 1 year low of $44.18 and a 1 year high of $96.81.

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

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.95%. Mueller Industries's dividend payout ratio (DPR) is presently 15.53%.

Analyst Ratings Changes

Separately, Northcoast Research upgraded shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price for the company in a research report on Wednesday, December 11th.

Mueller Industries 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.