Caxton Associates LLP Takes Position in Mueller Industries, Inc. $MLI

Caxton Associates LLP acquired a new position in Mueller Industries, Inc. (NYSE:MLI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,815 shares of the industrial products company’s stock, valued at approximately $859,000.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group raised its position in shares of Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 278 shares in the last quarter. Rise Advisors LLC purchased a new position in Mueller Industries in the first quarter valued at about $30,000. Employees Retirement System of Texas bought a new position in Mueller Industries in the second quarter worth about $34,000. Maseco LLP bought a new position in Mueller Industries in the second quarter worth about $40,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 valued at $40,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $114.73 on Tuesday. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 17.12 and a beta of 1.04. The company has a fifty day moving average price of $106.37 and a 200 day moving average price of $94.80. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $115.28.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 earnings per share.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s payout ratio is presently 14.93%.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated 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 sale, the director owned 41,745 shares in the company, valued at $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 158,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total transaction of $16,482,560.00. Following the transaction, the chief executive officer owned 1,119,241 shares in the company, valued at $116,759,221.12. The trade was a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 355,234 shares of company stock valued at $36,944,652 in the last ninety days. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.