Mutual of America Capital Management LLC Lowers Stock Holdings in Mueller Industries, Inc. $MLI

Key Points

• Mutual of America Capital Management reduced its stake in Mueller Industries by 10.9% in the fourth quarter, selling 22,737 shares and ending with 186,749 shares valued at about $21.4 million.
• Mueller Industries reported strong quarterly results, posting EPS of $2.16 versus estimates of $1.49 and revenue of $1.19 billion, which topped expectations and rose 19.3% year over year.
• The company also announced a quarterly dividend of $0.35 per share, payable June 19, while analysts currently rate the stock a Moderate Buy overall despite some recent downgrades.

Mutual of America Capital Management LLC trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,749 shares of the industrial products company's stock after selling 22,737 shares during the quarter. Mutual of America Capital Management LLC owned 0.17% of Mueller Industries worth $21,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MLI. AQR Capital Management LLC boosted its holdings in Mueller Industries by 181.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock valued at $261,439,000 after acquiring an additional 1,666,891 shares during the period. Norges Bank acquired a new stake in Mueller Industries in the 4th quarter valued at about $171,281,000. UBS Group AG raised its position in Mueller Industries by 837.0% in the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock valued at $129,819,000 after purchasing an additional 1,146,919 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Mueller Industries by 4,700.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 708,099 shares of the industrial products company's stock valued at $81,581,000 after purchasing an additional 693,347 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Mueller Industries by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 2,642,059 shares of the industrial products company's stock valued at $303,359,000 after purchasing an additional 624,210 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLI has been the topic of a number of analyst reports. Wall Street Zen lowered Mueller Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Northcoast Research lowered Mueller Industries from a "buy" rating to a "neutral" rating in a research report on Thursday, May 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $126.21 on Tuesday. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $141.51. The firm has a market capitalization of $13.96 billion, a PE ratio of 16.52 and a beta of 1.09. The stock's 50-day simple moving average is $126.31 and its 200-day simple moving average is $120.77.

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

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Mueller Industries's dividend payout ratio (DPR) is currently 18.32%.

Insider Transactions at Mueller Industries

In related news, CEO Gregory L. Christopher sold 103,266 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the transaction, the chief executive officer owned 804,911 shares in the company, valued at $110,506,231.19. This trade represents a 11.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

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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