Mueller Industries, Inc. $MLI Shares Acquired by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings sharply increased its stake in Mueller Industries, boosting its position by 337.1% in the fourth quarter to 28,977 shares valued at about $3.33 million.
• Mueller Industries reported better-than-expected quarterly results, with earnings per share of $2.16 versus the $1.49 estimate and revenue of $1.19 billion versus $1.10 billion expected.
• The company also declared a quarterly dividend of $0.35 per share, payable June 19, while CEO Gregory L. Christopher recently sold more than 103,000 shares.

Crossmark Global Holdings Inc. lifted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 337.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,977 shares of the industrial products company's stock after purchasing an additional 22,347 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Mueller Industries were worth $3,327,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of Mueller Industries by 2.2% in the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company's stock worth $400,000 after purchasing an additional 75 shares during the last quarter. US Asset Management LLC raised its stake in shares of Mueller Industries by 3.5% in the fourth quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company's stock worth $278,000 after purchasing an additional 81 shares during the last quarter. Aviance Capital Partners LLC raised its stake in shares of Mueller Industries by 2.3% in the third quarter. Aviance Capital Partners LLC now owns 4,235 shares of the industrial products company's stock worth $428,000 after purchasing an additional 97 shares during the last quarter. Covestor Ltd raised its stake in shares of Mueller Industries by 5.1% in the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company's stock worth $218,000 after purchasing an additional 105 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Mueller Industries by 2.2% in the third quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company's stock worth $545,000 after purchasing an additional 115 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen cut Mueller Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries presently has an average rating of "Buy".

Insider Activity at Mueller Industries

In related news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the transaction, the chief executive officer directly owned 804,911 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the transaction, the director owned 41,645 shares of the company's stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.30% of the stock is currently owned by company insiders.

Mueller Industries Trading Down 0.0%

Shares of MLI stock opened at $140.81 on Monday. The stock has a 50 day moving average of $119.42 and a 200 day moving average of $117.25. The stock has a market cap of $15.57 billion, a P/E ratio of 18.43 and a beta of 1.13. Mueller Industries, Inc. has a twelve month low of $72.16 and a twelve month high of $141.51.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly 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. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.Mueller Industries's quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned $1.39 earnings per share.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 5th. Mueller Industries's dividend payout ratio (DPR) is currently 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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