Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 40,581 Mueller Industries, Inc. $MLI

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 40,581 shares of the industrial products company’s stock, valued at approximately $4,659,000.

Other large investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Mueller Industries by 10.7% during the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after buying an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Mueller Industries by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock worth $17,563,000 after acquiring an additional 3,316 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Mueller Industries during the 1st quarter worth about $524,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 261 shares during the period. Finally, CW Advisors LLC grew its holdings in Mueller Industries by 4.0% during the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In related news, CEO Gregory L. Christopher sold 103,266 shares of the stock in a transaction that occurred 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 $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MLI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen raised Mueller Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Mueller Industries Trading Up 1.7%

Shares of MLI opened at $134.13 on Thursday. The firm has a fifty day moving average price of $122.98 and a 200-day moving average price of $119.38. The firm has a market capitalization of $14.83 billion, a P/E ratio of 17.56 and a beta of 1.13. Mueller Industries, Inc. has a 12-month low of $72.16 and a 12-month high of $141.51.

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

Mueller Industries Announces Dividend

The company 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 $0.35 dividend. The ex-dividend date 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 presently 18.32%.

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.