HRT Financial LP Invests $30.44 Million in Mueller Industries, Inc. $MLI

HRT Financial LP bought a new stake in Mueller Industries, Inc. (NYSE:MLI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 383,070 shares of the industrial products company’s stock, valued at approximately $30,442,000. HRT Financial LP owned about 0.35% of Mueller Industries as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLI. Brooklyn Investment Group lifted its stake in Mueller Industries by 267.3% during the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 278 shares during the period. Rise Advisors LLC acquired a new position in Mueller Industries during the first quarter valued at $30,000. Employees Retirement System of Texas purchased a new stake in Mueller Industries in the second quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its position in Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 261 shares during the period. Finally, Maseco LLP purchased a new position in shares of Mueller Industries during the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

MLI opened at $113.78 on Friday. The company has a fifty day moving average of $106.07 and a two-hundred day moving average of $94.31. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 16.98 and a beta of 1.04. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $114.87.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. During the same quarter last year, the business earned $1.48 earnings per share. Mueller Industries’s revenue was up 8.0% on a year-over-year basis.

Mueller Industries Announces Dividend

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

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 158,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total transaction of $16,482,560.00. Following the sale, the chief executive officer directly owned 1,119,241 shares of the company’s stock, valued at $116,759,221.12. This represents a 12.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 355,234 shares of company stock worth $36,944,652 in the last quarter. Corporate insiders own 2.70% 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 research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

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.