Mueller Industries, Inc. $MLI Shares Bought by Burney Co.

Burney Co. lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 28.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,059 shares of the industrial products company’s stock after acquiring an additional 8,303 shares during the quarter. Burney Co.’s holdings in Mueller Industries were worth $3,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MLI. Rise Advisors LLC bought a new stake in Mueller Industries during the first quarter worth approximately $30,000. Employees Retirement System of Texas bought a new position in shares of Mueller Industries in the second quarter valued at $34,000. Maseco LLP bought a new stake in shares of Mueller Industries during the 2nd quarter worth $40,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Mueller Industries by 108.8% during the 2nd 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Mueller Industries in the 2nd quarter worth $79,000. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their position. 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 stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 1,119,241 shares of the company’s stock, valued at $116,759,221.12. This trade represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 355,234 shares of company stock valued at $36,944,652 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

NYSE MLI opened at $118.08 on Friday. The firm’s 50 day moving average price is $109.50 and its two-hundred day moving average price is $97.10. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $118.91. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 17.62 and a beta of 1.04.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. During the same period last year, the business earned $1.48 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Wall Street Analysts Forecast Growth

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

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.