Isthmus Partners LLC Sells 6,608 Shares of Mueller Industries, Inc. $MLI

Isthmus Partners LLC reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 13.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,065 shares of the industrial products company’s stock after selling 6,608 shares during the quarter. Isthmus Partners LLC’s holdings in Mueller Industries were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MLI. Savant Capital LLC boosted its holdings in Mueller Industries by 239.2% in the 3rd quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock worth $1,430,000 after buying an additional 9,975 shares during the period. Ballast Asset Management LP bought a new stake in Mueller Industries during the 3rd quarter valued at $3,057,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth $7,158,000. Pallas Capital Advisors LLC lifted its position in shares of Mueller Industries by 88.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 10,344 shares of the industrial products company’s stock worth $1,187,000 after acquiring an additional 4,853 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Mueller Industries by 22.8% in the third quarter. Cibc World Market Inc. now owns 46,051 shares of the industrial products company’s stock worth $4,656,000 after acquiring an additional 8,545 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gregory L. Christopher sold 103,266 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the transaction, the chief executive officer directly owned 804,911 shares in the company, valued at $110,506,231.19. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

Mueller Industries Trading Down 2.1%

Mueller Industries stock opened at $136.34 on Friday. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $141.51. The firm has a market capitalization of $15.07 billion, a PE ratio of 17.85 and a beta of 1.13. The firm’s 50 day simple moving average is $121.87 and its 200 day simple moving average is $118.66.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.49 by $0.67. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.0%. Mueller Industries’s dividend payout ratio (DPR) is currently 18.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen downgraded Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.