MUFG Securities EMEA plc Purchases Shares of 133,000 Mueller Industries, Inc. $MLI

MUFG Securities EMEA plc acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,000 shares of the industrial products company’s stock, valued at approximately $15,268,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management bought a new position in shares of Mueller Industries during the 4th quarter worth about $27,000. JFS Wealth Advisors LLC boosted its position 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. Cary Street Partners Investment Advisory LLC boosted its position 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. Atlantic Union Bankshares Corp bought a new position in shares of Mueller Industries during the 3rd quarter worth about $46,000. Finally, Trust Co. of Vermont bought a new position in shares of Mueller Industries during the 4th quarter worth about $52,000. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 103,266 shares of the firm’s 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $128.39 on Friday. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $141.51. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 16.80 and a beta of 1.13. The firm’s 50-day simple moving average is $125.98 and its 200 day simple moving average is $120.56.

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

Mueller Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MLI. Wall Street Zen cut shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Finally, Northcoast Research cut shares of Mueller Industries from a “buy” rating to a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate 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.