Sierra Summit Advisors LLC Buys Shares of 8,627 Mueller Industries, Inc. $MLI

Sierra Summit Advisors LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,627 shares of the industrial products company’s stock, valued at approximately $990,000.

A number of other hedge funds have also modified their holdings of MLI. JFS Wealth Advisors LLC increased its stake in shares of Mueller Industries by 121.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Activest Wealth Management purchased a new position in shares of Mueller Industries during the 4th quarter worth approximately $27,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Mueller Industries by 228.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 215 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Mueller Industries during the 3rd quarter worth approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other news, CEO Gregory L. Christopher sold 103,266 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the transaction, the chief executive officer owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This trade represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Mueller Industries Stock Up 1.7%

Shares of MLI opened at $134.13 on Thursday. The firm has a market cap of $14.83 billion, a PE ratio of 17.56 and a beta of 1.13. The company’s fifty day moving average is $122.98 and its two-hundred day moving average is $119.38. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $141.51.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 19.3% 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, June 19th. Stockholders of record on Friday, June 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 18.32%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MLI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Mueller Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Mueller Industries Profile

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.