Mueller Industries, Inc. $MLI Stock Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada more than doubled its Mueller Industries stake in the third quarter, purchasing 17,682 additional shares for a total holding of 35,006 shares valued at approximately $2.15 million. Institutional investors collectively own 94.5% of the company.
• Mueller Industries reported strong fiscal third-quarter revenue growth of 31.6% year over year to $1.42 billion, exceeding estimates, while net income rose to $221.2 million and the company repurchased $201.9 million of stock.
• Despite the revenue growth, adjusted EPS of $1.00 missed the $1.08 consensus estimate, and the stock traded near a four-month low at $56.61. Analysts maintained a consensus “Buy” rating with an average price target of $75.

TD Waterhouse Canada Inc. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 102.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,006 shares of the industrial products company's stock after purchasing an additional 17,682 shares during the period. TD Waterhouse Canada Inc.'s holdings in Mueller Industries were worth $2,146,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management increased its holdings in shares of Mueller Industries by 80.4% in the 3rd 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 during the last quarter. Barlow Wealth Partners LLC raised its position in shares of Mueller Industries by 1.1% during the 3rd quarter. Barlow Wealth Partners LLC now owns 468,654 shares of the industrial products company's stock worth $29,586,000 after acquiring an additional 4,918 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Mueller Industries by 102.5% during the third quarter. Assenagon Asset Management S.A. now owns 52,080 shares of the industrial products company's stock worth $3,157,000 after purchasing an additional 26,366 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Mueller Industries by 97.3% during the third quarter. State of Alaska Department of Revenue now owns 51,373 shares of the industrial products company's stock worth $3,112,000 after purchasing an additional 25,329 shares during the last quarter. Finally, Curated Wealth Partners LLC acquired a new position in Mueller Industries in the third quarter valued at approximately $610,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries News Summary

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

• Positive Sentiment: Fiscal Q3 revenue rose 31.6% year over year to $1.42 billion, exceeding consensus estimates of roughly $1.28–$1.29 billion. Net income increased to $221.2 million, while operating cash flow reached $337 million. Mueller Industries Q3 Revenue Rises 32% to $1.42 Billion
• Positive Sentiment: Mueller Industries ended the quarter with $1.48 billion in cash and short-term investments and repurchased 3.2 million shares for $201.9 million, supporting shareholder returns. Higher copper prices also contributed to the substantial sales increase. Mueller Industries Earnings Results
• Neutral Sentiment: The stock was trading about 21% below its 52-week high and reached a roughly four-month low following the report, indicating weaker investor sentiment despite the revenue growth. Mueller Industries Stock Below 52-Week High
• Negative Sentiment: Adjusted diluted EPS was $1.00, below the $1.08 analyst consensus. Although adjusted EPS increased from $0.94 a year earlier, the earnings miss likely drove the selloff, particularly because profit growth lagged the sharp increase in revenue. Mueller Industries Shares Fall After Fiscal Q3 Earnings Miss

Wall Street Analyst Weigh In

Several brokerages have commented on MLI. Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Mueller Industries from a "strong-buy" rating to a "buy" rating in a research 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 report on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $75.00.

Insiders Place Their Bets

In other Mueller Industries news, CEO Gregory Christopher sold 200,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the transaction, the chief executive officer owned 1,598,850 shares of the company's stock, valued at $109,425,294. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott Goldman sold 2,000 shares of the business's stock in a transaction that occurred 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 represents a 2.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 275,444 shares of company stock valued at $18,885,398 over the last quarter. Company insiders own 2.30% of the company's stock.

Mueller Industries Price Performance

NYSE MLI opened at $56.61 on Wednesday. The company has a fifty day moving average of $61.95 and a two-hundred day moving average of $63.58. The company has a market capitalization of $12.52 billion, a PE ratio of 14.74 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $49.51 and a 1 year high of $71.12.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results 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). Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm's revenue for the quarter was up 31.6% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 4th. Mueller Industries's dividend payout ratio (DPR) is currently 18.23%.

About Mueller Industries

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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