UBS Group AG Decreases Stake in Mueller Industries, Inc. $MLI

Key Points

• UBS Group AG cut its stake in Mueller Industries by 45.2% in Q4, selling 580,772 shares and holding 703,171 shares (about 0.63% of the company) valued at ~$80.7 million.
• Insider selling has been significant: CEO Gregory L. Christopher sold 103,266 shares for roughly $14.18 million, and insiders sold 108,696 shares (~$14.82 million) in the last 90 days, reducing insider ownership to 2.30%.
• Company fundamentals remain strong—Mueller reported EPS of $2.16 (beating estimates by $0.67) and revenue of $1.19B (+19.3% YoY), raised its quarterly dividend to $0.35 (annualized $1.40), and trades with a market cap of $14.71B and a P/E of 17.42.

UBS Group AG lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 45.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,171 shares of the industrial products company's stock after selling 580,772 shares during the quarter. UBS Group AG owned about 0.63% of Mueller Industries worth $80,724,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its position in shares of Mueller Industries by 121.1% during 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 last quarter. Cary Street Partners Investment Advisory LLC increased its position in Mueller Industries by 228.7% in the third 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 bought a new stake in Mueller Industries in the third quarter worth $38,000. Northwestern Mutual Wealth Management Co. raised its stake in Mueller Industries by 108.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 261 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Mueller Industries during the third quarter valued at $46,000. Institutional investors own 94.50% of the company's stock.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 4,430 shares of the 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 sale, the director directly owned 41,645 shares of the company's stock, valued at $4,954,505.65. This represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 103,266 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 804,911 shares of the company's stock, valued at approximately $110,506,231.19. The trade was a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 108,696 shares of company stock valued at $14,821,136. Company insiders own 2.30% of the company's stock.

Mueller Industries Stock Performance

NYSE MLI opened at $133.08 on Monday. The business's 50 day moving average price is $118.32 and its 200-day moving average price is $116.43. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $139.68. The company has a market cap of $14.71 billion, a P/E ratio of 17.42 and a beta of 1.13.

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

Mueller Industries Increases Dividend

The company also recently announced 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 was Friday, March 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is 18.32%.

Analysts Set New Price Targets

MLI has been the subject of a number of recent research reports. Wall Street Zen raised shares of Mueller Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Weiss Ratings restated 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, According to data from MarketBeat, Mueller Industries 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.

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