Mueller Industries, Inc. $MLI Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 6.6% in the fourth quarter, HoldingsChannel reports. The firm owned 819,150 shares of the industrial products company’s stock after selling 57,913 shares during the period. Mueller Industries accounts for about 2.2% of Systematic Financial Management LP’s investment portfolio, making the stock its biggest holding. Systematic Financial Management LP’s holdings in Mueller Industries were worth $94,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Mueller Industries by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 10,515,780 shares of the industrial products company’s stock worth $1,207,212,000 after purchasing an additional 260,306 shares during the period. First Trust Advisors LP boosted its stake in Mueller Industries by 3.0% in the 3rd quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock worth $570,176,000 after purchasing an additional 166,218 shares during the period. AQR Capital Management LLC boosted its stake in Mueller Industries by 181.4% in the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock worth $261,439,000 after purchasing an additional 1,666,891 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Mueller Industries by 4.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,426,608 shares of the industrial products company’s stock worth $283,452,000 after purchasing an additional 96,440 shares during the period. Finally, UBS Group AG boosted its stake in Mueller Industries by 837.0% in the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock worth $129,819,000 after purchasing an additional 1,146,919 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

MLI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Mueller Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy”.

Insider Buying and Selling

In related news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction 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 $110,506,231.19. This trade represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Mueller Industries Trading Down 0.2%

Mueller Industries stock opened at $133.29 on Friday. The company has a market capitalization of $14.74 billion, a P/E ratio of 17.45 and a beta of 1.13. The firm’s fifty day simple moving average is $123.76 and its 200-day simple moving average is $119.67. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $141.51.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. Mueller Industries’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS.

Mueller Industries Dividend Announcement

The company also recently announced 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. 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 (DPR) is 18.32%.

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.