Mueller Industries, Inc. $MLI Stock Position Decreased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 22.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MLI. GAMMA Investing LLC increased its holdings in Mueller Industries by 40.7% in the first quarter. GAMMA Investing LLC now owns 1,140 shares of the industrial products company’s stock worth $87,000 after buying an additional 330 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Mueller Industries during the 1st quarter worth $303,000. Janney Montgomery Scott LLC increased its stake in shares of Mueller Industries by 77.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,557 shares of the industrial products company’s stock worth $1,565,000 after purchasing an additional 8,953 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Mueller Industries by 22.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,699 shares of the industrial products company’s stock worth $586,000 after purchasing an additional 1,435 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Mueller Industries by 8.9% during the first quarter. Flagship Harbor Advisors LLC now owns 4,118 shares of the industrial products company’s stock worth $314,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $104.12 on Friday. The company has a market cap of $11.53 billion, a P/E ratio of 15.54 and a beta of 1.02. The stock’s 50-day moving average is $98.13 and its 200-day moving average is $85.71. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $106.28.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results 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 analyst estimates of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.65%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 earnings per share.

Mueller Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director owned 91,664 shares in the company, valued at approximately $9,689,801.44. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

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.