Genus Capital Management Inc. Has $2.90 Million Position in Mueller Industries, Inc. $MLI

Key Points

• Genus Capital Management cut its Mueller Industries stake by 40.5% in the fourth quarter, selling 17,185 shares and leaving it with 25,215 shares worth about $2.9 million.
• Mueller Industries reported strong quarterly results, posting EPS of $2.16 versus the $1.49 estimate and revenue of $1.19 billion, up 19.3% year over year.
• The company also declared a quarterly dividend of $0.35 per share, and insiders remain lightly invested, with CEO Gregory L. Christopher recently selling 103,266 shares.

Genus Capital Management Inc. reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,215 shares of the industrial products company's stock after selling 17,185 shares during the period. Genus Capital Management Inc.'s holdings in Mueller Industries were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Mueller Industries by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company's stock worth $1,121,000 after acquiring an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Mueller Industries by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company's stock valued at $17,563,000 after acquiring an additional 3,316 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Mueller Industries in the 1st quarter valued at $524,000. Northwestern Mutual Wealth Management Co. raised its holdings in Mueller Industries by 108.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 261 shares in the last quarter. Finally, CW Advisors LLC raised its holdings in Mueller Industries by 4.0% in the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company's stock valued at $289,000 after acquiring an additional 140 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction on Monday, April 27th. The stock was 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 approximately $110,506,231.19. This trade represents a 11.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $133.29 on Monday. The stock has a market capitalization of $14.74 billion, a PE ratio of 17.45 and a beta of 1.13. The business has a fifty day moving average price of $123.76 and a two-hundred day moving average price of $119.76. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $141.51.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company posted $1.39 EPS. The company's revenue for the quarter was up 19.3% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is presently 18.32%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MLI shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a report on Tuesday, April 21st. Wall Street Zen raised Mueller Industries from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

Mueller Industries Company 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.

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