Mueller Industries, Inc. $MLI Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 102.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,080 shares of the industrial products company's stock after acquiring an additional 26,366 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Mueller Industries were worth $3,157,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in Mueller Industries by 97.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 51,373 shares of the industrial products company's stock valued at $3,112,000 after purchasing an additional 25,329 shares during the period. Curated Wealth Partners LLC acquired a new stake in shares of Mueller Industries in the third quarter worth $610,000. Fortitude Family Office LLC boosted its position in shares of Mueller Industries by 621.3% in the third quarter. Fortitude Family Office LLC now owns 880 shares of the industrial products company's stock worth $53,000 after buying an additional 758 shares during the period. Fortress Financial Solutions LLC acquired a new stake in shares of Mueller Industries in the third quarter worth $577,000. Finally, Baker Ellis Asset Management LLC grew its holdings in shares of Mueller Industries by 100.0% during the third quarter. Baker Ellis Asset Management LLC now owns 103,132 shares of the industrial products company's stock valued at $6,251,000 after buying an additional 51,566 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Trending Headlines about Mueller Industries

Here are the key news stories impacting Mueller Industries this week:

• Positive Sentiment: Fiscal third-quarter revenue rose 31.6% year over year to $1.42 billion, substantially exceeding analyst expectations of approximately $1.28 billion. Mueller Industries Fiscal Q3 Earnings, Sales Rise
• Positive Sentiment: Mueller generated $337 million in operating cash flow, ended the quarter with $1.48 billion in cash and short-term investments, and repurchased 3.2 million shares for $201.9 million—supportive of shareholder returns and financial flexibility. Mueller Industries Q3 Revenue Rises 32% to $1.42 Billion
• Positive Sentiment: Higher copper prices, with COMEX copper averaging $6.48 per pound—up 34.2% from the prior-year period—helped support the sharp increase in reported sales. Mueller Industries Q3 Sales Strengthen
• Neutral Sentiment: Operating income increased modestly to $281.6 million from $276.1 million, while net income rose to $221.2 million from $208.1 million, indicating that revenue growth translated into only limited operating-profit improvement. Mueller Industries Reports Earnings Results
• Negative Sentiment: Adjusted diluted EPS was $1.00, below the consensus estimate of $1.08. The earnings shortfall prompted a post-report decline and pushed the stock to a four-month low. Mueller Industries Shares Fall After Earnings Miss
• Negative Sentiment: MLI trades about 21% below its 52-week high, underscoring weakened momentum following the earnings disappointment. Mueller Industries Stock Below 52-Week High
• Negative Sentiment: Recent insider activity was entirely selling, including substantial share sales by the CEO and CFO, which may weigh on investor sentiment. Mueller Industries Q3 Revenue and Insider Activity

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a research report on Thursday, October 15th. Wall Street Zen lowered Mueller Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Northcoast Research upgraded shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Thursday, July 16th. Two analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $75.00.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 2,444 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $67.72, for a total transaction of $165,507.68. Following the sale, the director owned 181,328 shares in the company, valued at approximately $12,279,532.16. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Goldman sold 2,000 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the sale, the director owned 79,734 shares of the company's stock, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 275,444 shares of company stock worth $18,885,398. 2.30% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $57.56 on Thursday. The company's fifty day moving average is $61.74 and its 200-day moving average is $63.59. Mueller Industries, Inc. has a 52 week low of $51.20 and a 52 week high of $71.12. The company has a market capitalization of $12.73 billion, a PE ratio of 14.76 and a beta of 1.08.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.08). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.28 billion. Mueller Industries had a return on equity of 25.51% and a net margin of 17.26%. The business's quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.1750 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.70 annualized dividend and a yield of 1.2%. Mueller Industries's payout ratio is presently 18.23%.

Mueller Industries Profile

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.

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