Machina Capital S.A.S. Makes New Investment in Mueller Industries, Inc. $MLI

Machina Capital S.A.S. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,169 shares of the industrial products company’s stock, valued at approximately $624,000.

Several other hedge funds have also made changes to their positions in MLI. Allspring Global Investments Holdings LLC increased its position in Mueller Industries by 3.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company’s stock worth $232,900,000 after buying an additional 77,330 shares during the period. LSV Asset Management grew its position in shares of Mueller Industries by 0.9% during the second quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock worth $153,649,000 after acquiring an additional 16,757 shares during the last quarter. Norges Bank acquired a new stake in shares of Mueller Industries in the 2nd quarter worth about $127,287,000. Qube Research & Technologies Ltd bought a new stake in Mueller Industries in the 2nd quarter valued at about $75,901,000. Finally, AQR Capital Management LLC boosted its stake in Mueller Industries by 56.1% during the 2nd quarter. AQR Capital Management LLC now owns 918,802 shares of the industrial products company’s stock valued at $73,017,000 after purchasing an additional 330,374 shares during the period. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.6%

Mueller Industries stock opened at $115.33 on Friday. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $139.29. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 16.79 and a beta of 1.03. The company’s 50-day moving average price is $121.00 and its two-hundred day moving average price is $106.24.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.28). Mueller Industries had a return on equity of 24.70% and a net margin of 18.31%.The company had revenue of $962.39 million during the quarter, compared to analyst estimates of $928.00 million. During the same period in the prior year, the company posted $1.21 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis.

Insider Activity

In other news, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. The trade was a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Mueller Industries Company 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.