40,581 Shares in Mueller Industries, Inc. $MLI Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 40,581 shares of the industrial products company’s stock, valued at approximately $4,659,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in shares of Mueller Industries by 2.2% during the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 75 shares in the last quarter. US Asset Management LLC lifted its holdings in Mueller Industries by 3.5% during the fourth quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock worth $278,000 after buying an additional 81 shares during the period. Covestor Ltd lifted its holdings in Mueller Industries by 5.1% during the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock worth $218,000 after buying an additional 105 shares during the period. UMB Bank n.a. boosted its position in Mueller Industries by 2.2% during the 3rd quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock valued at $545,000 after acquiring an additional 115 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Mueller Industries by 3.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,546 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MLI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen upgraded Mueller Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Mueller Industries Stock Performance

Mueller Industries stock opened at $134.13 on Thursday. The stock has a market cap of $14.83 billion, a PE ratio of 17.56 and a beta of 1.13. The stock has a 50-day moving average of $122.98 and a two-hundred day moving average of $119.38. Mueller Industries, Inc. has a one year low of $72.16 and a one year high of $141.51.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping 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 business 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 firm earned $1.39 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis.

Mueller Industries Dividend Announcement

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

Insiders Place Their Bets

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 804,911 shares in the company, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

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.