Mitsubishi UFJ Trust & Banking Corp Raises Stock Holdings in Mueller Industries, Inc. $MLI

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 37.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,654 shares of the industrial products company’s stock after purchasing an additional 3,965 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Mueller Industries were worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MLI. NewEdge Advisors LLC boosted its position 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 purchasing an additional 1,420 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Mueller Industries by 1.5% during the first 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 purchasing an additional 3,316 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Mueller Industries during the first quarter worth approximately $524,000. Northwestern Mutual Wealth Management Co. boosted its position in Mueller Industries by 108.8% during the second 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 in the last quarter. Finally, CW Advisors LLC boosted its position in Mueller Industries by 4.0% during the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

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 completion of the sale, the chief executive officer owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the completion of the sale, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 108,696 shares of company stock valued at $14,821,136. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on MLI shares. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen upgraded Mueller Industries from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries presently has a consensus rating of “Buy”.

Mueller Industries Price Performance

NYSE MLI opened at $130.58 on Tuesday. The company has a market cap of $14.44 billion, a PE ratio of 17.09 and a beta of 1.13. The stock’s 50 day simple moving average is $118.32 and its 200-day simple moving average is $116.43. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $139.68.

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

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) is 18.32%.

Mueller Industries Company 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.