Mueller Industries, Inc. $MLI Shares Acquired by Sigma Planning Corp

Sigma Planning Corp raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 136.8% during the third quarter, Holdings Channel reports. The fund owned 32,623 shares of the industrial products company’s stock after buying an additional 18,848 shares during the period. Sigma Planning Corp’s holdings in Mueller Industries were worth $1,977,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MLI. Engineers Gate Manager LP grew its holdings in shares of Mueller Industries by 169.1% during the 2nd quarter. Engineers Gate Manager LP now owns 35,950 shares of the industrial products company’s stock valued at $4,419,000 after purchasing an additional 22,590 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Mueller Industries in the 2nd quarter worth $3,658,000. Tidal Investments LLC lifted its stake in Mueller Industries by 106.6% in the second quarter. Tidal Investments LLC now owns 436,778 shares of the industrial products company’s stock worth $53,693,000 after purchasing an additional 225,366 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in Mueller Industries by 60.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 90,342 shares of the industrial products company’s stock worth $11,106,000 after purchasing an additional 33,981 shares during the last quarter. Finally, Argent Capital Management LLC lifted its stake in Mueller Industries by 86.7% in the third quarter. Argent Capital Management LLC now owns 42,853 shares of the industrial products company’s stock worth $2,597,000 after purchasing an additional 19,904 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other news, Director Scott Goldman sold 2,000 shares of Mueller Industries stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $64.08, for a total transaction of $128,160.00. Following the sale, the director owned 79,734 shares of the company’s stock, valued at approximately $5,109,354.72. The trade was a 2.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $68.13, for a total transaction of $68,130.00. Following the transaction, the director owned 29,000 shares in the company, valued at $1,975,770. This represents a 3.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 275,444 shares of company stock worth $18,885,398 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

MLI has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, October 15th. Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, July 16th. Wall Street Zen downgraded Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Freedom Broker lowered their target price on Mueller Industries from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Mueller Industries has a consensus rating of “Buy” and an average price target of $75.50.

Mueller Industries Trading Up 0.9%

NYSE MLI opened at $54.84 on Wednesday. Mueller Industries, Inc. has a fifty-two week low of $51.35 and a fifty-two week high of $71.12. The stock has a 50 day simple moving average of $60.84 and a two-hundred day simple moving average of $62.34.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.08). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.28 billion. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 earnings per share.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.1750 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.70 annualized dividend and a yield of 1.3%.

Mueller Industries Company Profile

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.