17,682 Mueller Industries, Inc. $MLI Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 102.1% during the third quarter, HoldingsChannel reports. The firm owned 35,006 shares of the industrial products company’s stock after buying an additional 17,682 shares during the period. TD Waterhouse Canada Inc.’s holdings in Mueller Industries were worth $2,146,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Mueller Industries by 80.4% during the third quarter. Activest Wealth Management now owns 424 shares of the industrial products company’s stock worth $26,000 after buying an additional 189 shares during the period. Barlow Wealth Partners LLC increased its position in Mueller Industries by 1.1% in the 3rd quarter. Barlow Wealth Partners LLC now owns 468,654 shares of the industrial products company’s stock valued at $29,586,000 after acquiring an additional 4,918 shares during the period. Assenagon Asset Management S.A. increased its position in Mueller Industries by 102.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 52,080 shares of the industrial products company’s stock valued at $3,157,000 after acquiring an additional 26,366 shares during the period. State of Alaska Department of Revenue raised its stake in Mueller Industries by 97.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 51,373 shares of the industrial products company’s stock valued at $3,112,000 after acquiring an additional 25,329 shares during the last quarter. Finally, Curated Wealth Partners LLC purchased a new stake in Mueller Industries during the 3rd quarter valued at approximately $610,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

MLI stock opened at $56.61 on Wednesday. Mueller Industries, Inc. has a one year low of $49.51 and a one year high of $71.12. The stock has a market capitalization of $12.52 billion, a PE ratio of 14.74 and a beta of 1.08. The company has a fifty day moving average of $61.95 and a 200-day moving average of $63.58.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08). Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The company’s revenue was up 31.6% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 4th. Mueller Industries’s payout ratio is presently 18.23%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MLI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, October 15th. Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, July 16th. Finally, Wall Street Zen cut Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $75.00.

Mueller Industries News Summary

Here are the key news stories impacting Mueller Industries this week:

• Positive Sentiment: Fiscal Q3 revenue rose 31.6% year over year to $1.42 billion, exceeding consensus estimates of roughly $1.28–$1.29 billion. Net income increased to $221.2 million, while operating cash flow reached $337 million. Mueller Industries Q3 Revenue Rises 32% to $1.42 Billion
• Positive Sentiment: Mueller Industries ended the quarter with $1.48 billion in cash and short-term investments and repurchased 3.2 million shares for $201.9 million, supporting shareholder returns. Higher copper prices also contributed to the substantial sales increase. Mueller Industries Earnings Results
• Neutral Sentiment: The stock was trading about 21% below its 52-week high and reached a roughly four-month low following the report, indicating weaker investor sentiment despite the revenue growth. Mueller Industries Stock Below 52-Week High
• Negative Sentiment: Adjusted diluted EPS was $1.00, below the $1.08 analyst consensus. Although adjusted EPS increased from $0.94 a year earlier, the earnings miss likely drove the selloff, particularly because profit growth lagged the sharp increase in revenue. Mueller Industries Shares Fall After Fiscal Q3 Earnings Miss

Insiders Place Their Bets

In related news, Director John Hansen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $68.13, for a total value of $68,130.00. Following the sale, the director directly owned 29,000 shares in the company, valued at $1,975,770. The trade was a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Christopher sold 200,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the completion of the sale, the chief executive officer directly owned 1,598,850 shares in the company, valued at $109,425,294. This trade represents a 11.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 275,444 shares of company stock worth $18,885,398. 2.30% of the stock is owned by corporate insiders.

Mueller Industries Profile

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.