New Age Alpha Advisors LLC acquired a new position in Mueller Industries, Inc. (NYSE:MLI – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,009 shares of the industrial products company’s stock, valued at approximately $2,067,000.
Other hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after buying an additional 138 shares during the last quarter. Activest Wealth Management bought a new stake in Mueller Industries during the fourth quarter worth approximately $27,000. Cary Street Partners Investment Advisory LLC boosted its position in Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 215 shares during the period. Root Financial Partners LLC bought a new stake in Mueller Industries during the third quarter worth approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Mueller Industries by 108.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.
Insider Buying and Selling at Mueller Industries
In other news, CEO Gregory L. Christopher sold 103,266 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.
Mueller Industries Stock Up 3.9%
Mueller Industries (NYSE:MLI – Get Free Report) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis.
Mueller Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Mueller Industries’s dividend payout ratio is currently 18.32%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen raised Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.
View Our Latest Analysis on Mueller Industries
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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