Horizon Investments LLC Purchases 8,137 Shares of Mueller Industries, Inc. $MLI

Key Points

• Horizon Investments boosted its Q4 stake in Mueller Industries by 12.7% to 72,199 shares (about $8.29M); institutional investors now own 94.5% of the stock, with large position increases from AQR, UBS and Pictet.
• Company insiders have been net sellers — CEO Gregory L. Christopher sold 103,266 shares (~$14.18M) and insiders disposed of 108,696 shares worth $14.82M in the past three months, leaving insiders with 2.30% ownership.
• Mueller posted a strong quarter, beating estimates with EPS $2.16 vs $1.49 and revenue $1.19B vs $1.10B, raised its quarterly dividend to $0.35 ($1.40 annual, 1.1% yield), and the stock trades at a P/E of 17.42 with a $14.71B market cap.

Horizon Investments LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,199 shares of the industrial products company's stock after acquiring an additional 8,137 shares during the period. Horizon Investments LLC owned 0.07% of Mueller Industries worth $8,288,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MLI. AQR Capital Management LLC grew its holdings in Mueller Industries by 181.4% in the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock worth $261,439,000 after acquiring an additional 1,666,891 shares during the last quarter. UBS Group AG grew its holdings in Mueller Industries by 837.0% in the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock worth $129,819,000 after acquiring an additional 1,146,919 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Mueller Industries by 4,700.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 708,099 shares of the industrial products company's stock worth $81,581,000 after acquiring an additional 693,347 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Mueller Industries in the 3rd quarter worth $51,789,000. Finally, Bank of America Corp DE grew its holdings in Mueller Industries by 61.3% in the 3rd quarter. Bank of America Corp DE now owns 1,183,143 shares of the industrial products company's stock worth $119,628,000 after acquiring an additional 449,619 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the transaction, the director directly owned 90,664 shares of the company's stock, valued at $10,581,395.44. This trade represents a 1.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the transaction, the chief executive officer directly owned 804,911 shares of the company's stock, valued at approximately $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,696 shares of company stock valued at $14,821,136 in the last three months. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MLI. Wall Street Zen raised shares of Mueller Industries from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 25th. Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Mueller Industries Price Performance

Shares of NYSE MLI opened at $133.08 on Friday. Mueller Industries, Inc. has a 1 year low of $72.16 and a 1 year high of $139.68. The stock has a market cap of $14.71 billion, a P/E ratio of 17.42 and a beta of 1.13. The firm has a 50-day moving average of $118.32 and a 200 day moving average of $116.31.

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 analysts' consensus estimates of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same period last year, the company posted $1.39 EPS. Mueller Industries's revenue was up 19.3% on a year-over-year basis.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.35 per share. This is an increase from Mueller Industries's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. Mueller Industries's dividend payout ratio is 18.32%.

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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