Versor Investments LP Acquires Shares of 5,811 Mueller Industries, Inc. $MLI

Versor Investments LP acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, HoldingsChannel reports. The firm acquired 5,811 shares of the industrial products company’s stock, valued at approximately $667,000.

Several other large investors have also recently added to or reduced their stakes in MLI. Activest Wealth Management bought a new stake in Mueller Industries in the fourth quarter worth approximately $27,000. JFS Wealth Advisors LLC grew its position in Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Mueller Industries by 228.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 215 shares in the last quarter. Root Financial Partners LLC bought a new stake in Mueller Industries in the third quarter worth approximately $38,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Mueller Industries in the third quarter worth approximately $46,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.7%

MLI stock opened at $139.57 on Thursday. The firm has a 50 day moving average of $121.09 and a two-hundred day moving average of $118.28. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 18.27 and a beta of 1.13. Mueller Industries, Inc. has a 12 month low of $72.16 and a 12 month high of $141.51.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.67. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. Mueller Industries’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Mueller Industries’s dividend payout ratio is currently 18.32%.

Analyst Ratings Changes

Several analysts have commented on MLI shares. Wall Street Zen downgraded shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reissued 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, the company has an average rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In related news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by corporate insiders.

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.