Mueller Industries, Inc. $MLI Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 25.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 315,324 shares of the industrial products company’s stock after selling 108,900 shares during the period. Royce & Associates LP owned 0.28% of Mueller Industries worth $36,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MLI. JFS Wealth Advisors LLC grew its holdings in shares of Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 138 shares during the period. Activest Wealth Management purchased a new stake in shares of Mueller Industries in the fourth quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of 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 valued at $31,000 after purchasing an additional 215 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Mueller Industries in the third quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Mueller Industries by 108.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the sale, the chief executive officer owned 804,911 shares in the company, valued at approximately $110,506,231.19. This trade represents a 11.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI opened at $133.29 on Tuesday. The firm has a 50-day simple moving average of $124.20 and a two-hundred day simple moving average of $119.94. The stock has a market cap of $14.74 billion, a PE ratio of 17.45 and a beta of 1.13. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $141.51.

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

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Mueller Industries’s dividend payout ratio (DPR) is 18.32%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Mueller Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries 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.