Vanguard Group Inc. Boosts Stock Position in Mueller Industries, Inc. $MLI

Key Points

• Vanguard increased its stake in Mueller Industries by 2.5% in Q4 to 10,515,780 shares, now owning 9.47% of the company valued at about $1.21 billion, and institutions collectively own roughly 94.5% of the stock.
• Mueller beat expectations for the quarter with EPS of $2.16 vs. $1.49 expected and revenue of $1.19B (up 19.3% YoY), and the company raised its quarterly dividend to $0.35 (annualized $1.40, yield ~1.1%).
• Insider selling has been notable: CEO Gregory Christopher sold 103,266 shares (~$14.18M), and insiders sold 108,696 shares worth $14.82M over the past 90 days, leaving insiders with about 2.3% ownership.

Vanguard Group Inc. boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,515,780 shares of the industrial products company's stock after acquiring an additional 260,306 shares during the quarter. Vanguard Group Inc. owned 9.47% of Mueller Industries worth $1,207,212,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of Mueller Industries by 10.7% in the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company's stock valued at $1,121,000 after purchasing an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Mueller Industries by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company's stock valued at $17,563,000 after purchasing an additional 3,316 shares during the period. Acadian Asset Management LLC acquired a new position in Mueller Industries during the 1st quarter worth $524,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 period. Finally, CW Advisors LLC increased its holdings in Mueller Industries by 4.0% during the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company's stock worth $289,000 after purchasing an additional 140 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John B. Hansen sold 1,000 shares of the business'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 transaction of $116,710.00. Following the completion of the sale, the director owned 90,664 shares in the company, valued at $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 103,266 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the transaction, the chief executive officer directly owned 804,911 shares of the company's stock, valued at $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,696 shares of company stock worth $14,821,136 over the last 90 days. 2.30% of the stock is owned by insiders.

Mueller Industries Trading Down 1.7%

Shares of MLI stock opened at $133.08 on Friday. The company has a market cap of $14.71 billion, a P/E ratio of 17.42 and a beta of 1.13. The firm has a fifty day moving average price of $118.32 and a 200 day moving average price of $116.19. Mueller Industries, Inc. has a 12 month low of $72.16 and a 12 month high of $139.68.

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

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.35 per share. 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 dividend payout ratio is 18.32%.

Analyst Upgrades and Downgrades

MLI has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Mueller Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

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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