Diversified Trust Co Acquires New Position in Mueller Industries, Inc. $MLI

Diversified Trust Co bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,465 shares of the industrial products company’s stock, valued at approximately $553,000.

A number of other large investors also recently made changes to their positions in MLI. Vident Advisory LLC grew its stake in shares of Mueller Industries by 3.2% during the first quarter. Vident Advisory LLC now owns 9,456 shares of the industrial products company’s stock worth $720,000 after purchasing an additional 294 shares during the period. Baird Financial Group Inc. boosted its holdings in Mueller Industries by 2.5% during the first quarter. Baird Financial Group Inc. now owns 41,842 shares of the industrial products company’s stock worth $3,186,000 after buying an additional 1,031 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its position in shares of Mueller Industries by 64.4% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 6,080 shares of the industrial products company’s stock worth $463,000 after buying an additional 2,382 shares during the period. EP Wealth Advisors LLC raised its position in shares of Mueller Industries by 6.0% in the 1st quarter. EP Wealth Advisors LLC now owns 3,923 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 222 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its stake in Mueller Industries by 1.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,411 shares of the industrial products company’s stock worth $1,859,000 after acquiring an additional 366 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $103.42, for a total value of $5,171,000.00. Following the sale, the chief executive officer owned 1,069,241 shares of the company’s stock, valued at $110,580,904.22. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Jay Goldman sold 4,234 shares of the business’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 approximately $4,535,176.80. This trade represents a 9.21% 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 worth $36,944,652 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Mueller Industries Price Performance

NYSE:MLI opened at $116.81 on Friday. The business’s 50-day simple moving average is $110.80 and its 200-day simple moving average is $98.35. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $118.91. The stock has a market capitalization of $12.97 billion, a PE ratio of 17.43 and a beta of 1.04.

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

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Mueller Industries’s dividend payout ratio is currently 14.93%.

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.