Isthmus Partners LLC lessened its holdings in Mueller Industries, Inc. (NYSE:MLI – Free Report) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,065 shares of the industrial products company’s stock after selling 6,608 shares during the period. Isthmus Partners LLC’s holdings in Mueller Industries were worth $4,829,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in MLI. JFS Wealth Advisors LLC increased its holdings in Mueller Industries by 121.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Activest Wealth Management bought a new stake in Mueller Industries during the fourth quarter worth $27,000. Cary Street Partners Investment Advisory LLC raised its position in Mueller Industries by 228.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock valued at $31,000 after buying an additional 215 shares during the last quarter. Root Financial Partners LLC bought a new position in Mueller Industries during the 3rd quarter valued at $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 261 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.
Insider Transactions at Mueller Industries
In related news, CEO Gregory L. Christopher sold 103,266 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the sale, the chief executive officer owned 804,911 shares in the company, valued at approximately $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on Mueller Industries
Mueller Industries Trading Down 2.1%
Shares of Mueller Industries stock opened at $136.34 on Friday. The business’s fifty day simple moving average is $121.87 and its 200 day simple moving average is $118.66. Mueller Industries, Inc. has a 12 month low of $72.16 and a 12 month high of $141.51. The firm has a market capitalization of $15.07 billion, a P/E ratio of 17.85 and a beta of 1.13.
Mueller Industries (NYSE:MLI – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis.
Mueller Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.0%. Mueller Industries’s dividend payout ratio is presently 18.32%.
Mueller Industries Company 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.
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