Catalyst Capital Advisors LLC Has $1.11 Million Stock Position in Mueller Industries, Inc. $MLI

Catalyst Capital Advisors LLC decreased its stake in Mueller Industries, Inc. (NYSE:MLI) by 22.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,966 shares of the industrial products company’s stock after selling 4,026 shares during the period. Catalyst Capital Advisors LLC’s holdings in Mueller Industries were worth $1,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in shares of Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 278 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Mueller Industries in the 1st quarter valued at about $30,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries in the 1st quarter valued at $34,000. Finally, Maseco LLP bought a new stake in shares of Mueller Industries in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Down 0.1%

Shares of MLI opened at $104.12 on Friday. The stock has a market capitalization of $11.53 billion, a P/E ratio of 15.54 and a beta of 1.02. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $106.28. The company has a 50 day moving average of $98.13 and a 200-day moving average of $85.71.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.65%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, September 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $105.00.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the completion of the transaction, the director directly owned 91,664 shares in the company, valued at $9,689,801.44. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.