William Blair Investment Management LLC Has $204.33 Million Holdings in Mueller Industries, Inc. $MLI

William Blair Investment Management LLC cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 10.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,779,906 shares of the industrial products company’s stock after selling 214,969 shares during the quarter. William Blair Investment Management LLC’s holdings in Mueller Industries were worth $204,333,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. MQS Management LLC lifted its stake in Mueller Industries by 52.9% in the fourth quarter. MQS Management LLC now owns 4,143 shares of the industrial products company’s stock valued at $476,000 after buying an additional 1,433 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Mueller Industries by 53.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,361 shares of the industrial products company’s stock valued at $615,000 after buying an additional 1,865 shares during the period. Evoke Wealth LLC acquired a new position in Mueller Industries in the fourth quarter valued at approximately $258,000. Global Retirement Partners LLC lifted its stake in Mueller Industries by 2,244.6% in the fourth quarter. Global Retirement Partners LLC now owns 3,681 shares of the industrial products company’s stock valued at $423,000 after buying an additional 3,524 shares during the period. Finally, Sierra Summit Advisors LLC bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $990,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Trading Down 0.2%

Shares of Mueller Industries stock opened at $133.29 on Friday. The stock has a fifty day simple moving average of $123.76 and a 200 day simple moving average of $119.67. Mueller Industries, Inc. has a 12-month low of $72.16 and a 12-month high of $141.51. The company has a market capitalization of $14.74 billion, a P/E ratio of 17.45 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Mueller Industries’s revenue was up 19.3% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.1%. Mueller Industries’s dividend payout ratio is 18.32%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $110,506,231.19. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MLI shares. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. Wall Street Zen upgraded Mueller Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has an average rating of “Buy”.

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.