LSV Asset Management Reduces Stock Position in Mueller Industries, Inc. $MLI

LSV Asset Management reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 17.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,568,380 shares of the industrial products company’s stock after selling 321,350 shares during the period. LSV Asset Management’s holdings in Mueller Industries were worth $180,050,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its holdings in shares of Mueller Industries by 121.1% during the third 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 during the period. Activest Wealth Management purchased a new stake in shares of Mueller Industries during the fourth quarter worth about $27,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of 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 purchased a new stake in shares of Mueller Industries during the third quarter worth about $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries 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 value of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares in the company, valued at $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MLI. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Mueller Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Mueller Industries Price Performance

Shares of MLI opened at $133.29 on Friday. Mueller Industries, Inc. has a one year low of $72.16 and a one year high of $141.51. The company has a 50-day simple moving average of $123.76 and a two-hundred day simple moving average of $119.67. The firm has a market capitalization of $14.74 billion, a PE ratio of 17.45 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business posted $1.39 earnings per share. Mueller Industries’s quarterly revenue was up 19.3% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.1%. Mueller Industries’s dividend payout ratio (DPR) is 18.32%.

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.