Nilsine Partners LLC Boosts Stock Position in Mueller Industries, Inc. $MLI

Nilsine Partners LLC boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 23.9% during the third quarter, Holdings Channel.com reports. The firm owned 23,146 shares of the industrial products company’s stock after acquiring an additional 4,459 shares during the period. Nilsine Partners LLC’s holdings in Mueller Industries were worth $2,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP bought a new stake in Mueller Industries during the second quarter worth approximately $658,000. Advisors Management Group Inc. ADV boosted its holdings in shares of Mueller Industries by 51.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 51,024 shares of the industrial products company’s stock worth $4,055,000 after purchasing an additional 17,239 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Mueller Industries by 21.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock valued at $1,981,000 after purchasing an additional 4,370 shares during the last quarter. FORA Capital LLC purchased a new stake in Mueller Industries during the 1st quarter valued at $530,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Mueller Industries by 1.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,252,838 shares of the industrial products company’s stock worth $184,890,000 after buying an additional 42,599 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $103.42, for a total value of $5,171,000.00. Following the completion of the sale, the chief executive officer directly owned 1,069,241 shares in the company, valued at approximately $110,580,904.22. This represents a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total value of $105,710.00. Following the transaction, the director owned 91,664 shares in the company, valued at approximately $9,689,801.44. This represents a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 355,234 shares of company stock valued at $36,944,652 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Mueller Industries Trading Up 0.8%

NYSE:MLI opened at $114.73 on Tuesday. The stock has a fifty day simple moving average of $106.37 and a 200-day simple moving average of $94.80. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 17.12 and a beta of 1.04. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $115.28.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 EPS.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Mueller Industries’s payout ratio is 14.93%.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.