Mueller Industries, Inc. $MLI Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,448 shares of the industrial products company’s stock after buying an additional 7,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Mueller Industries were worth $4,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. JFS Wealth Advisors LLC grew its position in Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after buying an additional 138 shares during the period. Activest Wealth Management acquired a new stake in Mueller Industries during the fourth quarter valued at $27,000. Cary Street Partners Investment Advisory LLC grew its position in Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock valued at $31,000 after buying an additional 215 shares during the period. Root Financial Partners LLC acquired a new stake in Mueller Industries during the third quarter valued at $38,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Mueller Industries by 108.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after buying an additional 261 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction dated 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 sale, the chief executive officer owned 804,911 shares in the company, valued at $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MLI has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy”.

Mueller Industries Stock Down 0.2%

Shares of NYSE MLI opened at $133.29 on Friday. The company’s 50-day simple moving average is $123.76 and its 200-day simple moving average is $119.67. Mueller Industries, Inc. has a 52-week low of $72.16 and a 52-week high of $141.51. The firm has a market cap of $14.74 billion, a price-to-earnings ratio of 17.45 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.10 billion. During the same quarter last year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a $0.35 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. Mueller Industries’s dividend payout ratio (DPR) is 18.32%.

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.