EMC Capital Management Sells 7,293 Shares of Mueller Industries, Inc. $MLI

EMC Capital Management decreased its stake in Mueller Industries, Inc. (NYSE:MLI) by 77.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,176 shares of the industrial products company’s stock after selling 7,293 shares during the quarter. EMC Capital Management’s holdings in Mueller Industries were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLI. Brooklyn Investment Group lifted its position in Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after buying an additional 278 shares during the last quarter. Rise Advisors LLC bought a new position in Mueller Industries during the first quarter valued at $30,000. Maseco LLP purchased a new stake in shares of Mueller Industries in the second quarter valued at $40,000. Dagco Inc. bought a new stake in shares of Mueller Industries in the 1st quarter worth about $77,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Mueller Industries during the 1st quarter worth about $78,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Monday, October 27th. The stock was 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 directly owned 1,069,241 shares of the company’s stock, valued at $110,580,904.22. The trade was a 4.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the transaction, the director directly owned 91,664 shares in the company, valued at $9,689,801.44. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 351,000 shares of company stock valued at $36,484,670 in the last quarter. 2.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $105.00.

Mueller Industries Trading Up 0.9%

Shares of MLI opened at $105.71 on Wednesday. The firm has a fifty day moving average price of $102.28 and a 200-day moving average price of $90.29. The firm has a market capitalization of $11.73 billion, a P/E ratio of 15.78 and a beta of 1.04. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $109.90.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Mueller Industries’s payout ratio is currently 14.93%.

Mueller Industries Company Profile

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.