Mueller Industries, Inc. $MLI Stock: Vise Technologies Inc. Grows Position

Vise Technologies Inc. lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 228.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,938 shares of the industrial products company’s stock after acquiring an additional 39,617 shares during the period. Vise Technologies Inc.’s holdings in Mueller Industries were worth $3,451,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Mueller Industries during the 2nd quarter valued at $29,000. Arlington Trust Co LLC purchased a new stake in Mueller Industries during the 2nd quarter worth $30,000. NBT Bank N A NY boosted its position in Mueller Industries by 148.7% during the 1st quarter. NBT Bank N A NY now owns 286 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 171 shares during the period. Alpine Bank Wealth Management acquired a new stake in Mueller Industries in the 3rd quarter valued at $25,000. Finally, Activest Wealth Management increased its holdings in Mueller Industries by 80.4% in the 3rd quarter. Activest Wealth Management now owns 424 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MLI shares. Wall Street Zen raised Mueller Industries from a “hold” rating to a “buy” rating in a research report on Sunday. Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, October 15th. Finally, Freedom Broker lowered their target price on Mueller Industries from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Three equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $75.50.

Mueller Industries Trading Up 0.8%

NYSE MLI opened at $55.60 on Wednesday. The company’s fifty day simple moving average is $60.05 and its 200-day simple moving average is $62.17. Mueller Industries, Inc. has a 52 week low of $52.00 and a 52 week high of $71.12. The stock has a market cap of $12.12 billion, a P/E ratio of 14.26 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.08). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Mueller Industries had a net margin of 17.26% and a return on equity of 25.23%. Mueller Industries’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 earnings per share.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a dividend of $0.1750 per share. The ex-dividend date was Friday, September 4th. This represents a $0.70 annualized dividend and a dividend yield of 1.3%. Mueller Industries’s dividend payout ratio (DPR) is currently 17.95%.

Insider Activity

In other news, CEO Gregory Christopher sold 200,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the sale, the chief executive officer directly owned 1,598,850 shares of the company’s stock, valued at approximately $109,425,294. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Goldman sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the transaction, the director owned 79,734 shares in the company, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 274,000 shares of company stock worth $18,762,560 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

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.