Genus Capital Management Inc. Sells 17,185 Shares of Mueller Industries, Inc. $MLI

Genus Capital Management Inc. lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 40.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,215 shares of the industrial products company’s stock after selling 17,185 shares during the period. Genus Capital Management Inc.’s holdings in Mueller Industries were worth $2,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. AQR Capital Management LLC grew its position in Mueller Industries by 181.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock worth $261,439,000 after acquiring an additional 1,666,891 shares during the last quarter. UBS Group AG grew its position in Mueller Industries by 837.0% during the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock worth $129,819,000 after acquiring an additional 1,146,919 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Mueller Industries by 4,700.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 708,099 shares of the industrial products company’s stock worth $81,581,000 after acquiring an additional 693,347 shares during the last quarter. Bank of America Corp DE grew its position in Mueller Industries by 61.3% during the 3rd quarter. Bank of America Corp DE now owns 1,183,143 shares of the industrial products company’s stock worth $119,628,000 after acquiring an additional 449,619 shares during the last quarter. Finally, Amundi bought a new stake in Mueller Industries during the 3rd quarter worth $28,698,000. Institutional investors own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

MLI has been the topic of a number of research reports. Wall Street Zen upgraded Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries currently has an average rating of “Buy”.

Mueller Industries Trading Down 0.1%

NYSE MLI opened at $133.29 on Monday. The business’s 50-day moving average price is $123.76 and its two-hundred day moving average price is $119.76. Mueller Industries, Inc. has a 12 month low of $72.16 and a 12 month high of $141.51. The firm has a market capitalization of $14.74 billion, a PE ratio of 17.45 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The business’s revenue was up 19.3% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Mueller Industries’s payout ratio is 18.32%.

Insider Activity at Mueller Industries

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 stock was sold at an average price of $137.29, for a total value of $14,177,389.14. Following the sale, the chief executive officer owned 804,911 shares in the company, valued at approximately $110,506,231.19. The trade was a 11.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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.