Profund Advisors LLC Has $204,000 Stock Holdings in Mueller Industries, Inc. $MLI

Profund Advisors LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 47.2% in the second quarter, Holdings Channel reports. The firm owned 2,564 shares of the industrial products company’s stock after selling 2,290 shares during the period. Profund Advisors LLC’s holdings in Mueller Industries were worth $204,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MLI. Brooklyn Investment Group boosted its position in shares of Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 278 shares in the last quarter. Rise Advisors LLC acquired a new stake in Mueller Industries during the 1st quarter worth $30,000. Maseco LLP bought a new position in Mueller Industries during the second quarter worth about $40,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Mueller Industries during the first quarter worth about $76,000. Finally, Dagco Inc. acquired a new position in Mueller Industries in the first quarter valued at about $77,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 0.2%

Shares of NYSE MLI opened at $106.99 on Monday. The firm has a market cap of $11.88 billion, a PE ratio of 15.97 and a beta of 1.04. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $109.90. The company has a fifty day moving average price of $101.93 and a 200 day moving average price of $89.86.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.11). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the completion of the transaction, the director owned 91,664 shares of the company’s stock, valued at $9,689,801.44. This represents a 1.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $103.42, for a total transaction of $5,171,000.00. Following the completion of the sale, the chief executive officer owned 1,069,241 shares in the company, valued at $110,580,904.22. This trade represents a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 351,000 shares of company stock worth $36,484,670 in the last 90 days. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries currently has an average rating of “Buy” and an average target price of $105.00.

About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.