denkapparat Operations GmbH Acquires 2,934 Shares of Mueller Industries, Inc. $MLI

denkapparat Operations GmbH boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 80.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,588 shares of the industrial products company’s stock after buying an additional 2,934 shares during the period. denkapparat Operations GmbH’s holdings in Mueller Industries were worth $524,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MLI. Envestnet Asset Management Inc. increased its holdings in Mueller Industries by 134.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 290,573 shares of the industrial products company’s stock worth $22,124,000 after purchasing an additional 166,637 shares in the last quarter. Advisors Management Group Inc. ADV boosted its position in shares of Mueller Industries by 51.0% during the second quarter. Advisors Management Group Inc. ADV now owns 51,024 shares of the industrial products company’s stock worth $4,055,000 after buying an additional 17,239 shares during the period. Harbour Investments Inc. boosted its position in shares of Mueller Industries by 34.3% during the first quarter. Harbour Investments Inc. now owns 52,953 shares of the industrial products company’s stock worth $4,032,000 after buying an additional 13,520 shares during the period. FORA Capital LLC bought a new position in shares of Mueller Industries during the first quarter worth about $530,000. Finally, HB Wealth Management LLC acquired a new stake in Mueller Industries in the 1st quarter valued at approximately $299,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the completion of the transaction, the director directly owned 91,664 shares in the company, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 158,000 shares of the stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $104.32, for a total value of $16,482,560.00. Following the completion of the sale, the chief executive officer owned 1,119,241 shares in the company, valued at approximately $116,759,221.12. This trade represents a 12.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 351,000 shares of company stock valued at $36,484,670 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Mueller Industries Stock Up 0.5%

Shares of Mueller Industries stock opened at $108.29 on Wednesday. The stock has a market cap of $12.02 billion, a P/E ratio of 16.16 and a beta of 1.04. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $109.48. The business’s 50 day moving average is $101.26 and its 200-day moving average is $89.13.

Mueller Industries (NYSE:MLI) last issued 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). Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Mueller Industries’s quarterly revenue was up 8.0% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is 14.93%.

Mueller Industries Company 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.