Merit Financial Group LLC Acquires 7,857 Shares of Mueller Industries, Inc. $MLI

Key Points

• Merit Financial Group LLC raised its stake in Mueller Industries by 73.5% in Q4, buying 7,857 shares to hold 18,548 shares valued at about $2.13 million per its latest 13F filing.
• Mueller Industries posted a strong quarter on April 21, reporting $2.16 EPS vs. $1.49 expected and revenue of $1.19 billion (up 19.3% year‑over‑year), with a ROE of 24.7% and 18.3% net margin.
• The company raised its quarterly dividend to $0.35 (annualized $1.40), up from $0.25, representing a roughly 1.0% yield and a payout ratio near 20%.

Merit Financial Group LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 73.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,548 shares of the industrial products company's stock after purchasing an additional 7,857 shares during the quarter. Merit Financial Group LLC's holdings in Mueller Industries were worth $2,129,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP raised its position in Mueller Industries by 3.0% in the 3rd quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company's stock valued at $570,176,000 after purchasing an additional 166,218 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Mueller Industries by 181.4% during the third 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. Allspring Global Investments Holdings LLC raised its position in shares of Mueller Industries by 4.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,426,608 shares of the industrial products company's stock worth $283,452,000 after acquiring an additional 96,440 shares during the last quarter. UBS Group AG raised its position in shares of Mueller Industries by 837.0% during the third 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. Finally, Bank of America Corp DE raised its position in shares of Mueller Industries by 61.3% during the third 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.

Mueller Industries Stock Up 11.4%

MLI stock opened at $134.70 on Wednesday. The company has a market cap of $14.89 billion, a P/E ratio of 19.61 and a beta of 1.07. Mueller Industries, Inc. has a twelve month low of $68.39 and a twelve month high of $139.29. The business has a fifty day moving average of $116.04 and a 200-day moving average of $114.63.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.67. Mueller Industries had a return on equity of 24.70% and a net margin of 18.31%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The firm's quarterly revenue was up 19.3% on a year-over-year basis.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Mueller Industries's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries's payout ratio is presently 20.38%.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction on Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the sale, the director directly owned 41,645 shares of the company's stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the sale, the director directly owned 90,664 shares of the company's stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MLI. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research report on Thursday, January 22nd. Wall Street Zen downgraded Mueller Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries has an average 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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