Mueller Industries, Inc. $MLI Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 87.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,698 shares of the industrial products company’s stock after buying an additional 27,897 shares during the period. Yousif Capital Management LLC’s holdings in Mueller Industries were worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Curry Webb Wealth Management LLC bought a new stake in Mueller Industries during the 3rd quarter worth approximately $116,000. Isthmus Partners LLC increased its holdings in Mueller Industries by 96.1% during the 3rd quarter. Isthmus Partners LLC now owns 72,548 shares of the industrial products company’s stock valued at $4,397,000 after purchasing an additional 35,550 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Mueller Industries during the 3rd quarter valued at $67,000. Oakmont Investment Advisors Inc. raised its position in Mueller Industries by 100.0% in the 3rd quarter. Oakmont Investment Advisors Inc. now owns 25,732 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 12,869 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Mueller Industries by 176.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 75,224 shares of the industrial products company’s stock valued at $4,559,000 after purchasing an additional 48,031 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Freedom Broker reduced their price objective on Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, October 15th. Finally, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating. According to MarketBeat, Mueller Industries presently has a consensus rating of “Buy” and a consensus price target of $75.50.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Goldman sold 2,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the transaction, the director directly owned 79,734 shares in the company, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Christopher sold 200,000 shares of Mueller Industries stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.44, for a total value of $13,688,000.00. Following the completion of the sale, the chief executive officer directly owned 1,598,850 shares of the company’s stock, valued at $109,425,294. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 275,444 shares of company stock valued at $18,885,398. 2.30% of the stock is currently owned by corporate insiders.

Mueller Industries Trading Up 0.7%

Shares of MLI stock opened at $54.48 on Tuesday. Mueller Industries, Inc. has a 1 year low of $51.20 and a 1 year high of $71.12. The firm’s 50 day moving average is $61.07 and its 200-day moving average is $62.37. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 13.97 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.28 billion. Mueller Industries had a net margin of 17.26% and a return on equity of 25.23%. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $0.1750 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.70 annualized dividend and a yield of 1.3%. Mueller Industries’s dividend payout ratio is currently 17.95%.

About Mueller Industries

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.