Linden Thomas Advisory Services LLC Sells 131 Shares of Mueller Industries, Inc. $MLI

Linden Thomas Advisory Services LLC reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,276 shares of the industrial products company’s stock after selling 131 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Mueller Industries were worth $1,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MLI. Golden State Wealth Management LLC boosted its position in shares of Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 278 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Mueller Industries in the 1st quarter worth approximately $30,000. Wayfinding Financial LLC bought a new stake in shares of Mueller Industries in the 1st quarter worth approximately $34,000. Finally, Maseco LLP bought a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $40,000. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $105.00.

Mueller Industries Trading Down 1.2%

MLI stock opened at $102.98 on Friday. The stock has a market capitalization of $11.43 billion, a PE ratio of 15.37 and a beta of 1.02. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $106.28. The stock’s 50 day simple moving average is $98.35 and its 200 day simple moving average is $86.08.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.11). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.0%. Mueller Industries’s dividend payout ratio is 14.93%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total transaction of $105,710.00. Following the completion of the sale, the director directly owned 91,664 shares in the company, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.