Mueller Industries (NYSE:MLI) Hits New 12-Month High – Should You Buy?

Mueller Industries, Inc. (NYSE:MLI)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $119.23 and last traded at $120.1410, with a volume of 67264 shares changing hands. The stock had previously closed at $116.81.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Mueller Industries Stock Performance

The firm has a fifty day simple moving average of $110.80 and a 200-day simple moving average of $98.72. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 17.95 and a beta of 1.04.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 5th. This represents a $1.00 annualized dividend and a yield of 0.8%. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,069,241 shares in the company, valued at approximately $110,580,904.22. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 355,234 shares of company stock valued at $36,944,652. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Mueller Industries

Large investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC increased its holdings in Mueller Industries by 121.1% in the 3rd 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 during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of Mueller Industries by 228.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 215 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $38,000. Rise Advisors LLC bought a new position in Mueller Industries in the first quarter valued at approximately $30,000. Finally, Employees Retirement System of Texas acquired a new position in Mueller Industries during the second quarter valued at approximately $34,000. 94.50% of the stock is owned by institutional investors and hedge funds.

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.