Universal Beteiligungs und Servicegesellschaft mbH Purchases 4,885 Shares of Mueller Industries, Inc. $MLI

Universal Beteiligungs und Servicegesellschaft mbH raised its position in Mueller Industries, Inc. (NYSE:MLI) by 3.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 135,923 shares of the industrial products company’s stock after acquiring an additional 4,885 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.12% of Mueller Industries worth $13,743,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Mueller Industries by 3.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock worth $232,900,000 after purchasing an additional 77,330 shares in the last quarter. LSV Asset Management raised its holdings in Mueller Industries by 0.9% during the second quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock worth $153,649,000 after buying an additional 16,757 shares during the last quarter. Norges Bank bought a new position in shares of Mueller Industries in the second quarter valued at $127,287,000. Qube Research & Technologies Ltd acquired a new position in shares of Mueller Industries during the second quarter valued at about $75,901,000. Finally, AQR Capital Management LLC grew its holdings in shares of Mueller Industries by 56.1% during the second quarter. AQR Capital Management LLC now owns 918,802 shares of the industrial products company’s stock valued at $73,017,000 after buying an additional 330,374 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday. One 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 Price Performance

Shares of MLI stock opened at $132.71 on Friday. The firm has a 50-day moving average of $116.96 and a 200-day moving average of $103.44. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $135.08. The company has a market cap of $14.73 billion, a P/E ratio of 19.81 and a beta of 1.04.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Mueller Industries’s dividend payout ratio is currently 14.93%.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’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 transaction, the chief executive officer owned 1,069,241 shares of the company’s stock, valued at approximately $110,580,904.22. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the transaction, the director owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This trade represents a 9.21% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

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.