New Age Alpha Advisors LLC Acquires Shares of 18,009 Mueller Industries, Inc. $MLI

New Age Alpha Advisors LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,009 shares of the industrial products company’s stock, valued at approximately $2,067,000.

A number of other hedge funds also recently bought and sold shares of MLI. JFS Wealth Advisors LLC lifted its stake in Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after buying an additional 138 shares in the last quarter. Activest Wealth Management acquired a new position in shares of Mueller Industries in the 4th quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Mueller Industries by 228.7% in the 3rd 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 acquired a new position in shares of Mueller Industries in the 3rd quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Mueller Industries by 108.8% in the 2nd 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. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Gregory L. Christopher sold 103,266 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $137.29, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

MLI has been the topic of a number of research reports. Wall Street Zen upgraded Mueller Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries has an average rating of “Buy”.

Mueller Industries Price Performance

Shares of MLI opened at $138.55 on Wednesday. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 18.13 and a beta of 1.13. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $141.51. The business’s 50-day moving average is $124.78 and its 200-day moving average is $120.15.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, beating 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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis.

Mueller Industries Dividend Announcement

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 $0.35 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. Mueller Industries’s dividend payout ratio is currently 18.32%.

Mueller Industries 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.