Mueller Industries (NYSE:MLI) Hits New 1-Year High – Time to Buy?

Mueller Industries, Inc. (NYSE:MLI) reached a new 52-week high on Wednesday . The company traded as high as $133.92 and last traded at $133.7250, with a volume of 116233 shares. The stock had previously closed at $131.11.

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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has a consensus rating of “Buy”.

Mueller Industries Trading Up 2.0%

The company has a market capitalization of $14.85 billion, a PE ratio of 19.97 and a beta of 1.04. The company’s 50 day moving average price is $115.43 and its 200-day moving average price is $102.66.

Mueller Industries (NYSE:MLI) last posted its quarterly 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). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. Mueller Industries’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was 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 in the company, valued at $9,689,801.44. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares in the company, valued at approximately $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 company insiders.

Hedge Funds Weigh In On Mueller Industries

A number of institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in shares of Mueller Industries by 10.7% in the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after buying an additional 1,420 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mueller Industries by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after purchasing an additional 3,316 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Mueller Industries during the first quarter worth about $524,000. Wealth Enhancement Advisory Services LLC grew its stake in Mueller Industries by 9.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,494 shares of the industrial products company’s stock worth $454,000 after purchasing an additional 495 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Mueller Industries by 12.1% in the second quarter. Assenagon Asset Management S.A. now owns 33,828 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 3,650 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

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.