Merit Financial Group LLC Grows Stock Position in Mueller Industries, Inc. $MLI

Merit Financial Group LLC increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 298.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,691 shares of the industrial products company’s stock after purchasing an additional 8,005 shares during the quarter. Merit Financial Group LLC’s holdings in Mueller Industries were worth $1,081,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wedbush Securities Inc. raised its position in Mueller Industries by 3.9% during the 2nd quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock worth $282,000 after buying an additional 134 shares during the last quarter. CW Advisors LLC raised its holdings in Mueller Industries by 4.0% during the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 140 shares in the last quarter. Total Wealth Planning & Management Inc. raised its holdings in Mueller Industries by 2.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 144 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in Mueller Industries by 6.2% in the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 152 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV boosted its holdings in Mueller Industries by 3.4% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 185 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s 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 completion of the transaction, the director directly owned 91,664 shares in the company, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director directly owned 41,745 shares in the company, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 355,234 shares of company stock valued at $36,944,652. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Mueller Industries Trading Up 0.6%

Shares of NYSE MLI opened at $119.88 on Wednesday. The company’s 50-day moving average price is $111.41 and its 200 day moving average price is $99.37. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $120.47. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 17.89 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 (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s payout ratio is currently 14.93%.

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.