Mueller Industries, Inc. $MLI Shares Acquired by United Capital Management of KS Inc.

Key Points

• United Capital Management of KS increased its Mueller Industries stake by 103.5% in the third quarter, adding 89,092 shares to reach 175,157 shares, valued at about $10.6 million. Institutional investors collectively own 94.5% of the stock.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and a $75.50 price target. Recent rating changes included upgrades to Buy, though Freedom Broker lowered its target to $76.
• Mueller reported quarterly revenue of $1.42 billion, up 31.6% year over year and above estimates, but EPS of $1.00 missed the $1.08 consensus. The company also announced a quarterly dividend of $0.175 per share.

United Capital Management of KS Inc. grew its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 103.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 175,157 shares of the industrial products company's stock after buying an additional 89,092 shares during the quarter. United Capital Management of KS Inc. owned approximately 0.08% of Mueller Industries worth $10,616,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Mueller Industries during the second quarter valued at approximately $29,000. Arlington Trust Co LLC purchased a new stake in Mueller Industries in the second quarter worth $30,000. Alpine Bank Wealth Management purchased a new stake in Mueller Industries in the third quarter worth $25,000. Activest Wealth Management boosted its holdings in Mueller Industries by 80.4% in the third quarter. Activest Wealth Management now owns 424 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. Finally, Trust Co. of Vermont bought a new stake in Mueller Industries in the second quarter valued at $56,000. 94.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MLI. Freedom Broker reduced their price objective on shares of Mueller Industries from $80.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Wall Street Zen raised shares of Mueller Industries from a "hold" rating to a "buy" rating in a research report on Sunday, November 1st. Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a research note on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $75.50.

Insiders Place Their Bets

In other Mueller Industries news, Director John Hansen sold 2,000 shares of the business's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $55.40, for a total value of $110,800.00. Following the sale, the director directly owned 179,078 shares of the company's stock, valued at approximately $9,920,921.20. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Goldman sold 2,000 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the sale, the director directly owned 79,734 shares in the company, valued at $5,109,354.72. This trade represents a 2.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

Shares of MLI opened at $54.88 on Tuesday. Mueller Industries, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $71.12. The firm's 50-day simple moving average is $59.30 and its two-hundred day simple moving average is $61.92. The stock has a market cap of $11.96 billion, a PE ratio of 14.07 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.08). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.28 billion. Mueller Industries had a return on equity of 25.23% and a net margin of 17.26%. The business's revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.1750 per share. The ex-dividend date is Friday, December 4th. This represents a $0.70 dividend on an annualized basis and a yield of 1.3%. Mueller Industries's payout ratio is presently 17.95%.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and markets products used in plumbing, heating, ventilation and air conditioning (HVAC), refrigeration, and industrial applications. Its products include copper tube and fittings, valves, line sets, brass rod and forgings, and plastic plumbing products.

The company serves customers across a range of markets, including construction, HVAC and refrigeration, automotive, and industrial manufacturing. Its operations and sales reach North America and international markets, including Europe and Asia.

Founded in 1917, Mueller Industries is headquartered in Collierville, Tennessee.

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