Fortress Financial Solutions LLC Takes Position in Mueller Industries, Inc. $MLI

Fortress Financial Solutions LLC purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,159 shares of the industrial products company’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Entropy Technologies LP acquired a new position in Mueller Industries during the 2nd quarter worth $658,000. Advisors Management Group Inc. ADV increased its stake in 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 valued at $4,055,000 after purchasing an additional 17,239 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Mueller Industries by 21.3% during the second quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock worth $1,981,000 after acquiring an additional 4,370 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Mueller Industries in the 2nd quarter worth about $859,000. Finally, HWG Holdings LP bought a new stake in Mueller Industries in the 3rd quarter valued at about $7,985,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Down 1.1%

NYSE:MLI opened at $116.40 on Wednesday. The firm has a market cap of $12.92 billion, a P/E ratio of 17.37 and a beta of 1.04. The business’s 50-day moving average price is $110.09 and its 200 day moving average price is $97.82. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $118.91.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $942.00 million. During the same quarter in the previous year, the company earned $1.48 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.25 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Mueller Industries’s dividend payout ratio is currently 14.93%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total transaction of $105,710.00. Following the transaction, the director owned 91,664 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 355,234 shares of company stock valued at $36,944,652. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Profile

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.