Seizert Capital Partners LLC Sells 17,970 Shares of Mueller Industries, Inc. $MLI

Key Points

• Seizert Capital Partners cut its stake in Mueller Industries by 32.9%, selling 17,970 shares in Q4 and now holds 36,705 shares worth about $4.21 million.
• Company insiders have sold material stock recently—CEO Gregory L. Christopher sold 103,266 shares for roughly $14.18 million, and insiders have sold 108,696 shares totaling about $14.82 million over the past 90 days; insiders now own 2.30%.
• Mueller beat expectations in the latest quarter with EPS of $2.16 vs. $1.49 and revenue of $1.19B vs. $1.10B, and raised its quarterly dividend to $0.35 (annualized $1.40, ~1.1% yield).

Seizert Capital Partners LLC lessened its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,705 shares of the industrial products company's stock after selling 17,970 shares during the period. Seizert Capital Partners LLC's holdings in Mueller Industries were worth $4,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Activest Wealth Management acquired a new stake in Mueller Industries in the fourth quarter valued at approximately $27,000. JFS Wealth Advisors LLC increased its position in shares of Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company's stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 215 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries in the 3rd quarter worth $38,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Mueller Industries during the 3rd quarter worth $46,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the sale, the director owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the chief executive officer directly owned 804,911 shares in the company, valued at $110,506,231.19. The trade was a 11.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,696 shares of company stock valued at $14,821,136 over the last ninety days. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

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

Mueller Industries Price Performance

Shares of MLI stock opened at $133.08 on Monday. Mueller Industries, Inc. has a 1 year low of $72.16 and a 1 year high of $139.68. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 17.42 and a beta of 1.13. The business has a fifty day moving average of $118.32 and a 200 day moving average of $116.43.

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

Mueller Industries Increases Dividend

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

Mueller Industries Company 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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