Mueller Industries, Inc. $MLI Shares Sold by Danske Bank A S

Key Points

• Strong quarter: Mueller Industries reported Q earnings of $2.16 EPS vs. $1.49 expected and revenue of $1.19B (vs. $1.10B), with revenue up 19.3%, a 19.37% net margin and 25.97% ROE.
• Significant insider selling: CEO Gregory L. Christopher sold 103,266 shares for about $14.18M and insiders sold a total of 108,696 shares (~$14.82M) over the last quarter.
• Dividend raised: The company increased its quarterly dividend from $0.25 to $0.35 (annualized $1.40), implying a ~1.1% yield and an 18.32% payout ratio.

Danske Bank A S lowered its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 148,108 shares of the industrial products company's stock after selling 14,301 shares during the quarter. Danske Bank A S owned 0.13% of Mueller Industries worth $17,003,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MLI. JFS Wealth Advisors LLC grew its stake in Mueller Industries by 121.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 138 shares during the period. Activest Wealth Management acquired a new stake in Mueller Industries during the 4th quarter worth $27,000. Cary Street Partners Investment Advisory LLC boosted its stake in Mueller Industries by 228.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company's stock worth $31,000 after purchasing an additional 215 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Mueller Industries during the 3rd quarter worth $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company's stock worth $40,000 after purchasing an additional 261 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Up 0.0%

MLI stock opened at $133.08 on Monday. Mueller Industries, Inc. has a 12 month low of $72.16 and a 12 month high of $139.68. The firm has a 50-day moving average of $118.32 and a two-hundred day moving average of $116.43. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 17.42 and a beta of 1.13.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Mueller Industries's quarterly revenue was up 19.3% on a year-over-year basis.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.35 dividend. This is an increase from Mueller Industries's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries's payout ratio is currently 18.32%.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 4,430 shares of the company's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 103,266 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares of the company's stock, valued at $110,506,231.19. This represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 108,696 shares of company stock valued at $14,821,136. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Mueller Industries from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy".

About Mueller Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.