LSV Asset Management Cuts Position in Mueller Industries, Inc. $MLI

LSV Asset Management cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,568,380 shares of the industrial products company’s stock after selling 321,350 shares during the period. LSV Asset Management owned about 1.41% of Mueller Industries worth $180,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. JFS Wealth Advisors LLC grew its position in Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Activest Wealth Management purchased a new position in Mueller Industries in the fourth quarter worth $27,000. Cary Street Partners Investment Advisory LLC grew its position in Mueller Industries by 228.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 215 shares in the last quarter. Root Financial Partners LLC purchased a new position in Mueller Industries in the third quarter worth $38,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Mueller Industries by 108.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 261 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Down 0.2%

NYSE MLI opened at $133.29 on Friday. The company has a 50-day simple moving average of $123.76 and a two-hundred day simple moving average of $119.67. Mueller Industries, Inc. has a 12-month low of $72.16 and a 12-month high of $141.51. The firm has a market cap of $14.74 billion, a price-to-earnings ratio of 17.45 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Mueller Industries’s dividend payout ratio is presently 18.32%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. 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”.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares in the company, valued at $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by 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.