Vise Technologies Inc. Buys Shares of 4,635 Mueller Industries, Inc. $MLI

Vise Technologies Inc. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,635 shares of the industrial products company’s stock, valued at approximately $368,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC acquired a new stake in Mueller Industries during the 1st quarter worth approximately $54,072,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Mueller Industries during the second quarter worth $54,751,000. AQR Capital Management LLC raised its stake in shares of Mueller Industries by 329.0% in the first quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company’s stock valued at $43,926,000 after acquiring an additional 451,261 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in Mueller Industries by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company’s stock valued at $45,509,000 after purchasing an additional 412,564 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Mueller Industries by 408.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 352,717 shares of the industrial products company’s stock worth $28,030,000 after purchasing an additional 283,376 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $106.99 on Friday. The stock’s 50-day simple moving average is $101.93 and its 200-day simple moving average is $89.75. The firm has a market capitalization of $11.88 billion, a PE ratio of 15.97 and a beta of 1.04. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $109.90.

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

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Mueller Industries’s dividend payout ratio is 14.93%.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 158,000 shares of Mueller Industries stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $104.32, for a total value of $16,482,560.00. Following the transaction, the chief executive officer directly owned 1,119,241 shares of the company’s stock, valued at $116,759,221.12. The trade was a 12.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the sale, the director owned 91,664 shares of the company’s stock, valued at $9,689,801.44. This trade represents a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 351,000 shares of company stock worth $36,484,670 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries presently has an average rating of “Buy” and an average target price of $105.00.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.