Mueller Industries, Inc. $MLI Shares Acquired by Vest Financial LLC

Vest Financial LLC increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.8% during the third quarter, Holdings Channel.com reports. The fund owned 604,382 shares of the industrial products company’s stock after buying an additional 27,616 shares during the period. Mueller Industries comprises approximately 0.8% of Vest Financial LLC’s holdings, making the stock its 26th biggest position. Vest Financial LLC’s holdings in Mueller Industries were worth $61,109,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in Mueller Industries in the 2nd quarter valued at $34,000. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries in the third quarter valued at about $38,000. Maseco LLP purchased a new stake in shares of Mueller Industries during the second quarter worth about $40,000. Northwestern Mutual Wealth Management Co. lifted its stake in 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 buying an additional 261 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in Mueller Industries by 5,691.7% in the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $70,000 after buying an additional 683 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

NYSE:MLI opened at $131.11 on Wednesday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $133.43. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 19.57 and a beta of 1.04. The company’s 50-day moving average is $115.43 and its two-hundred day moving average is $102.66.

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

Mueller Industries Dividend Announcement

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

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 sale, the director directly owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction dated 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. The trade was a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 355,234 shares of company stock worth $36,944,652 over the last three months. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.