JSF Financial LLC Acquires Shares of 8,734 Mueller Industries, Inc. $MLI

Key Points

• JSF Financial LLC opened a new position in Mueller Industries during the fourth quarter, buying 8,734 shares valued at about $1.0 million.
• Mueller Industries reported better-than-expected Q1 earnings, with EPS of $2.16 versus estimates of $1.49 and revenue of $1.19 billion, up 19.3% year over year.
• The company raised its quarterly dividend to $0.35 per share from $0.25, while CEO Gregory L. Christopher and another insider recently sold shares.

JSF Financial LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,734 shares of the industrial products company's stock, valued at approximately $1,003,000.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in Mueller Industries in the fourth quarter valued at about $27,000. JFS Wealth Advisors LLC raised its position in Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 138 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 215 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries during the third quarter valued at about $38,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Mueller Industries during the third quarter valued at about $46,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $140.81 on Friday. The business has a 50-day moving average of $119.42 and a 200-day moving average of $117.25. The company has a market capitalization of $15.57 billion, a PE ratio of 18.43 and a beta of 1.13. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $141.51.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share 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 during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm earned $1.39 earnings per share. The company's revenue was up 19.3% on a year-over-year basis.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio is 18.32%.

Insider Transactions at Mueller Industries

In other news, CEO Gregory L. Christopher sold 103,266 shares of the 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 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the transaction, the director directly owned 41,645 shares in the company, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 108,696 shares of company stock valued at $14,821,136. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MLI shares. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen downgraded Mueller Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries has a consensus rating of "Buy".

Mueller Industries 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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