Legal & General Group Plc Has $18.04 Million Holdings in Mueller Industries, Inc. $MLI

Legal & General Group Plc lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,969 shares of the industrial products company’s stock after selling 4,915 shares during the quarter. Legal & General Group Plc owned approximately 0.21% of Mueller Industries worth $18,037,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Wedbush Securities Inc. boosted its holdings in shares of Mueller Industries by 3.9% during the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 134 shares during the period. Total Wealth Planning & Management Inc. lifted its position in Mueller Industries by 2.5% in the 2nd quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after buying an additional 144 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Mueller Industries by 6.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after buying an additional 152 shares during the period. Rowlandmiller & PARTNERS.ADV grew its holdings in shares of Mueller Industries by 3.4% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 185 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Mueller Industries by 0.4% in the second quarter. Harbour Investments Inc. now owns 53,140 shares of the industrial products company’s stock worth $4,223,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Down 0.4%

Mueller Industries stock opened at $109.95 on Friday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $111.39. The firm’s fifty day simple moving average is $103.78 and its 200-day simple moving average is $91.93. The company has a market capitalization of $12.21 billion, a P/E ratio of 16.41 and a beta of 1.04.

Mueller Industries (NYSE:MLI) last issued 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). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $942.00 million. During the same period in the previous year, the business posted $1.48 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis.

Mueller Industries Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two research 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 target price of $105.00.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the transaction, the director owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the firm’s 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 transaction, the director owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. This represents a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 355,234 shares of company stock valued at $36,944,652 in the last quarter. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Company 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.