8,734 Shares in Mueller Industries, Inc. $MLI Purchased by JSF Financial LLC

JSF Financial LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,734 shares of the industrial products company’s stock, valued at approximately $1,003,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its stake in 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 acquiring an additional 138 shares during the period. Activest Wealth Management acquired a new stake in Mueller Industries during the fourth quarter worth about $27,000. Cary Street Partners Investment Advisory LLC raised its stake in 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 acquiring an additional 215 shares during the period. Root Financial Partners LLC acquired a new stake in Mueller Industries during the third quarter worth about $38,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in 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 acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Mueller Industries presently has a consensus rating of “Buy”.

Insiders Place Their Bets

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the company’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 transaction, the chief executive officer owned 804,911 shares in the company, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Jay Goldman sold 4,430 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the transaction, the director owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This trade represents a 9.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 108,696 shares of company stock worth $14,821,136. Insiders own 2.30% of the company’s stock.

Mueller Industries Trading Up 2.2%

NYSE MLI opened at $140.81 on Friday. Mueller Industries, Inc. has a 52 week low of $72.16 and a 52 week high of $141.51. The stock has a market cap of $15.57 billion, a price-to-earnings ratio of 18.43 and a beta of 1.13. The company has a 50-day moving average price of $119.42 and a two-hundred day moving average price of $117.25.

Mueller Industries (NYSE:MLI) last posted its earnings results 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 firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. Mueller Industries’s quarterly revenue was up 19.3% on a year-over-year basis.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.35 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 13th. This represents a $1.40 annualized dividend and a yield of 1.0%. Mueller Industries’s payout ratio is currently 18.32%.

Mueller Industries Profile

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.