Versor Investments LP Buys Shares of 5,811 Mueller Industries, Inc. $MLI

Versor Investments LP bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,811 shares of the industrial products company’s stock, valued at approximately $667,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC lifted its stake in shares of Mueller Industries by 239.2% in the 3rd quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock worth $1,430,000 after acquiring an additional 9,975 shares during the period. Ballast Asset Management LP acquired a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $3,057,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $7,158,000. Cibc World Market Inc. lifted its stake in shares of Mueller Industries by 22.8% in the 3rd quarter. Cibc World Market Inc. now owns 46,051 shares of the industrial products company’s stock worth $4,656,000 after acquiring an additional 8,545 shares during the period. Finally, Pallas Capital Advisors LLC lifted its stake in shares of Mueller Industries by 88.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 10,344 shares of the industrial products company’s stock worth $1,187,000 after acquiring an additional 4,853 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Mueller Industries Price Performance

MLI stock opened at $139.57 on Thursday. Mueller Industries, Inc. has a 52-week low of $72.16 and a 52-week high of $141.51. The company’s 50 day simple moving average is $121.09 and its 200-day simple moving average is $118.28. The firm has a market capitalization of $15.43 billion, a P/E ratio of 18.27 and a beta of 1.13.

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

Mueller Industries Dividend Announcement

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

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were 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 in the company, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Jay Goldman sold 4,430 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the transaction, the director owned 41,645 shares in the company, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is currently owned by corporate insiders.

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.