Fortress Financial Solutions LLC Invests $522,000 in Mueller Industries, Inc. $MLI

Fortress Financial Solutions LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the third quarter, HoldingsChannel.com reports. The fund acquired 5,159 shares of the industrial products company’s stock, valued at approximately $522,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. boosted its stake in Mueller Industries by 28.9% during the 1st quarter. Raymond James Financial Inc. now owns 111,345 shares of the industrial products company’s stock valued at $8,478,000 after purchasing an additional 24,972 shares during the period. Vident Advisory LLC boosted its holdings in Mueller Industries by 3.2% during the first quarter. Vident Advisory LLC now owns 9,456 shares of the industrial products company’s stock valued at $720,000 after purchasing an additional 294 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Mueller Industries by 2.5% in the 1st quarter. Baird Financial Group Inc. now owns 41,842 shares of the industrial products company’s stock valued at $3,186,000 after purchasing an additional 1,031 shares during the period. Focus Partners Advisor Solutions LLC grew its stake in shares of Mueller Industries by 64.4% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 6,080 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 2,382 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in shares of Mueller Industries by 6.0% in the 1st quarter. EP Wealth Advisors LLC now owns 3,923 shares of the industrial products company’s stock worth $299,000 after buying an additional 222 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Insider Activity

In related news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $103.42, for a total transaction of $5,171,000.00. Following the completion of the transaction, the chief executive officer owned 1,069,241 shares of the company’s stock, valued at $110,580,904.22. This trade represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 355,234 shares of company stock valued at $36,944,652 over the last three months. 2.70% of the stock is owned by insiders.

Mueller Industries Price Performance

NYSE MLI opened at $116.40 on Wednesday. The stock’s 50 day simple moving average is $110.09 and its 200 day simple moving average is $97.82. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $118.91. The firm has a market cap of $12.92 billion, a PE ratio of 17.37 and a beta of 1.04.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate 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 25.02%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, December 5th. Mueller Industries’s dividend payout ratio is presently 14.93%.

About Mueller Industries

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.