North Dakota State Investment Board bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,792 shares of the industrial products company’s stock, valued at approximately $435,000.
Several other large investors have also recently made changes to their positions in the business. Fifth Third Bancorp lifted its holdings in shares of Mueller Industries by 2.2% during the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 75 shares during the last quarter. US Asset Management LLC lifted its holdings in shares of Mueller Industries by 3.5% during the fourth quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 81 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Mueller Industries by 5.1% during the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 105 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Mueller Industries by 2.2% during the third quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 115 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Mueller Industries by 3.4% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,546 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 116 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Gregory L. Christopher sold 103,266 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the transaction, the chief executive officer directly owned 804,911 shares in the company, valued at $110,506,231.19. The trade was a 11.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Mueller Industries
Mueller Industries Stock Down 0.2%
Shares of NYSE MLI opened at $133.29 on Friday. Mueller Industries, Inc. has a twelve month low of $72.16 and a twelve month high of $141.51. The firm has a market cap of $14.74 billion, a P/E ratio of 17.45 and a beta of 1.13. The company has a 50 day moving average of $123.76 and a 200 day moving average of $119.67.
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 for the quarter, topping analysts’ consensus estimates of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $1.39 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis.
Mueller Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Mueller Industries’s payout ratio is presently 18.32%.
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.
Featured Stories
- Five stocks we like better than Mueller Industries
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI – Free Report).
Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.
