Nebula Research & Development LLC Increases Stock Position in Mueller Industries, Inc. $MLI

Nebula Research & Development LLC lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 89.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,228 shares of the industrial products company’s stock after buying an additional 28,380 shares during the quarter. Mueller Industries makes up about 0.4% of Nebula Research & Development LLC’s holdings, making the stock its 24th biggest holding. Nebula Research & Development LLC owned 0.05% of Mueller Industries worth $4,786,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Wedbush Securities Inc. boosted its position in shares of Mueller Industries by 3.9% in the 2nd quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 134 shares in the last quarter. CW Advisors LLC boosted its holdings in Mueller Industries by 4.0% in the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 140 shares in the last quarter. Total Wealth Planning & Management Inc. grew its stake in shares of Mueller Industries by 2.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after acquiring an additional 144 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Mueller Industries by 6.2% during the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 152 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV raised its position in shares of Mueller Industries by 3.4% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Mueller Industries Stock Performance

NYSE MLI opened at $112.83 on Thursday. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $113.89. The stock has a 50-day moving average of $105.53 and a 200 day moving average of $93.91. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 16.84 and a beta of 1.04.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Mueller Industries’s payout ratio is presently 14.93%.

Insider Activity at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $103.42, for a total transaction of $5,171,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 355,234 shares of company stock worth $36,944,652. 2.70% of the stock is owned by insiders.

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.