Campbell & CO Investment Adviser LLC Purchases New Shares in Mueller Industries, Inc. $MLI

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 41,256 shares of the industrial products company’s stock, valued at approximately $3,279,000.

A number of other hedge funds have also recently bought and sold shares of MLI. Wedbush Securities Inc. raised its holdings in shares of Mueller Industries by 3.9% in the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 134 shares during the last quarter. Total Wealth Planning & Management Inc. grew its position in Mueller Industries by 2.5% in the 2nd quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 144 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Mueller Industries by 6.2% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after buying an additional 152 shares during the last quarter. Rowlandmiller & PARTNERS.ADV increased its stake in Mueller Industries by 3.4% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock valued at $442,000 after buying an additional 185 shares during the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in shares of Mueller Industries by 4.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock worth $340,000 after buying an additional 187 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of MLI opened at $107.22 on Monday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $109.48. The stock’s fifty day moving average price is $100.77 and its two-hundred day moving average price is $88.64. The firm has a market cap of $11.90 billion, a PE ratio of 16.00 and a beta of 1.04.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $942.00 million. During the same quarter in the previous year, the company posted $1.48 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total value of $105,710.00. Following the completion of the transaction, the director directly owned 91,664 shares in the company, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $103.42, for a total value of $5,171,000.00. Following the sale, the chief executive officer owned 1,069,241 shares in the company, valued at approximately $110,580,904.22. This represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 352,000 shares of company stock worth $36,576,640. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $105.00.

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.