Mueller Industries, Inc. $MLI Stock Purchased by Yousif Capital Management LLC

Yousif Capital Management LLC grew its position in Mueller Industries, Inc. (NYSE:MLI) by 87.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,698 shares of the industrial products company’s stock after acquiring an additional 27,897 shares during the quarter. Yousif Capital Management LLC’s holdings in Mueller Industries were worth $3,618,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Mueller Industries during the second quarter valued at approximately $1,437,555,000. First Trust Advisors LP raised its stake in shares of Mueller Industries by 0.6% in the first quarter. First Trust Advisors LP now owns 5,594,217 shares of the industrial products company’s stock valued at $619,839,000 after purchasing an additional 33,248 shares in the last quarter. William Blair Investment Management LLC bought a new position in Mueller Industries in the second quarter worth $244,156,000. Pictet Asset Management Holding SA lifted its position in Mueller Industries by 136.5% in the first quarter. Pictet Asset Management Holding SA now owns 1,674,939 shares of the industrial products company’s stock worth $185,561,000 after purchasing an additional 966,840 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Mueller Industries during the second quarter worth $131,286,000. Institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MLI shares. Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Freedom Broker decreased their target price on shares of Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Mueller Industries has a consensus rating of “Buy” and an average price target of $75.50.

Mueller Industries Trading Up 0.7%

MLI stock opened at $54.48 on Tuesday. Mueller Industries, Inc. has a 1-year low of $51.20 and a 1-year high of $71.12. The firm has a market cap of $11.87 billion, a P/E ratio of 13.97 and a beta of 1.08. The business’s 50 day moving average is $61.07 and its 200-day moving average is $62.37.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.28 billion. Mueller Industries had a return on equity of 25.23% and a net margin of 17.26%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, September 4th. Mueller Industries’s dividend payout ratio is 17.95%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Goldman sold 2,000 shares of Mueller Industries stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total transaction of $128,160.00. Following the completion of the transaction, the director directly owned 79,734 shares of the company’s stock, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $68.13, for a total transaction of $68,130.00. Following the completion of the sale, the director owned 29,000 shares in the company, valued at $1,975,770. This represents a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 275,444 shares of company stock worth $18,885,398 over the last three months. Company insiders own 2.30% of the company’s stock.

About Mueller Industries

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.