Mueller Industries, Inc. $MLI Shares Bought by Susquehanna Fundamental Investments LLC

Key Points

• Susquehanna Fundamental Investments increased its Mueller Industries stake by 60.3% in the second quarter, owning 90,342 shares valued at approximately $11.1 million. Institutional investors collectively hold 94.5% of the company.
• Mueller Industries reported quarterly earnings of $1.13 per share, exceeding estimates of $1.09, while revenue rose 25.5% year over year to $1.43 billion. The company also declared a quarterly dividend of $0.175 per share, representing a 1.1% yield.
• Analysts maintain a consensus “Buy” rating with a $75 price target, though insiders have sold 275,444 shares worth approximately $18.9 million over the past 90 days.

Susquehanna Fundamental Investments LLC lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 60.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,342 shares of the industrial products company's stock after acquiring an additional 33,981 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Mueller Industries were worth $11,106,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp grew its position in shares of Mueller Industries by 2.2% during the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company's stock worth $400,000 after buying an additional 75 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in Mueller Industries by 28.4% during the 1st quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company's stock worth $41,000 after acquiring an additional 82 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Mueller Industries by 19.6% in the 1st quarter. Root Financial Partners LLC now owns 512 shares of the industrial products company's stock worth $57,000 after purchasing an additional 84 shares during the last quarter. Florida Financial Advisors LLC raised its stake in shares of Mueller Industries by 3.7% in the 4th quarter. Florida Financial Advisors LLC now owns 2,510 shares of the industrial products company's stock valued at $288,000 after purchasing an additional 89 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Mueller Industries by 4.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,100 shares of the industrial products company's stock worth $241,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Down 0.0%

Shares of NYSE:MLI opened at $62.79 on Monday. Mueller Industries, Inc. has a fifty-two week low of $47.11 and a fifty-two week high of $71.12. The firm has a 50-day simple moving average of $63.17 and a 200 day simple moving average of $62.62. The company has a market cap of $13.89 billion, a PE ratio of 16.35 and a beta of 1.11.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. Mueller Industries's quarterly revenue was up 25.5% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.70 annualized dividend and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is 18.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MLI. Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a report on Friday, July 17th. Wall Street Zen downgraded Mueller Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Northcoast Research upgraded Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 target price for the company in a research report on Thursday, July 16th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $75.00.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total transaction of $128,160.00. Following the completion of the transaction, the director owned 79,734 shares in the company, valued at $5,109,354.72. The trade was a 2.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 200,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total value of $13,688,000.00. Following the transaction, the chief executive officer owned 1,598,850 shares of the company's stock, valued at approximately $109,425,294. The trade was a 11.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 275,444 shares of company stock valued at $18,885,398. Insiders own 2.30% of the company's stock.

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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