Crossmark Global Holdings Inc. Boosts Stock Position in Mueller Industries, Inc. $MLI

Crossmark Global Holdings Inc. grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 337.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,977 shares of the industrial products company’s stock after acquiring an additional 22,347 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Mueller Industries were worth $3,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Bancorp increased its position in shares of Mueller Industries by 2.2% in the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after buying an additional 75 shares in the last quarter. US Asset Management LLC increased its position in shares of Mueller Industries by 3.5% in the fourth quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock valued at $278,000 after buying an additional 81 shares in the last quarter. Aviance Capital Partners LLC increased its position in shares of Mueller Industries by 2.3% in the third quarter. Aviance Capital Partners LLC now owns 4,235 shares of the industrial products company’s stock valued at $428,000 after buying an additional 97 shares in the last quarter. Covestor Ltd increased its position in shares of Mueller Industries by 5.1% in the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock valued at $218,000 after buying an additional 105 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Mueller Industries by 2.2% in the third quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock valued at $545,000 after buying an additional 115 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLI has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen lowered Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $140.81 on Monday. The business’s 50 day moving average price is $119.42 and its 200-day moving average price is $117.25. The firm has a market capitalization of $15.57 billion, a PE ratio of 18.43 and a beta of 1.13. Mueller Industries, Inc. has a 1 year low of $72.16 and a 1 year high of $141.51.

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

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries’s payout ratio is currently 18.32%.

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $118.97, for a total value of $527,037.10. Following the sale, the director directly owned 41,645 shares of the company’s stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 directly owned 804,911 shares in the company, valued at $110,506,231.19. This trade represents a 11.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.30% of the company’s stock.

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.