Systematic Financial Management LP Sells 57,913 Shares of Mueller Industries, Inc. $MLI

Systematic Financial Management LP lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 819,150 shares of the industrial products company’s stock after selling 57,913 shares during the quarter. Mueller Industries comprises about 2.2% of Systematic Financial Management LP’s investment portfolio, making the stock its biggest holding. Systematic Financial Management LP owned 0.74% of Mueller Industries worth $94,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MLI. JFS Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 138 shares during the period. Activest Wealth Management acquired a new position in shares of Mueller Industries during the fourth quarter valued at approximately $27,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of 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 acquiring an additional 215 shares during the period. Root Financial Partners LLC acquired a new position in shares of Mueller Industries during the third quarter valued at approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction that occurred 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 in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Mueller Industries Stock Performance

Mueller Industries stock opened at $133.29 on Friday. 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, Inc. has a 1 year low of $72.16 and a 1 year high of $141.51. The firm’s 50 day moving average price is $123.76 and its two-hundred day moving average price is $119.67.

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

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders 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 yield of 1.1%. Mueller Industries’s payout ratio is 18.32%.

Analysts Set New Price Targets

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

Mueller Industries Company 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.