Mueller Industries (NYSE:MLI) Sets New 52-Week High - Here's Why

Key Points

• New 52-week high: Mueller Industries rallied to $139.83 (trading up ~2.3%) after reporting a strong quarter with EPS $2.16 vs. $1.49 consensus and revenue of $1.19 billion, up 19.3% year‑over‑year.
• The company raised its quarterly dividend to $0.35 (annualized $1.40, ~1.0% yield) and trades at a PE of 18.25 with a market cap around $15.4 billion.
• Analysts are broadly positive (Weiss reissued a Buy; Wall Street Zen upgraded to Strong‑Buy) and institutions have been accumulating shares, even as insiders sold roughly 108,696 shares (~$14.8M) in the past three months.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $139.83 and last traded at $138.2880, with a volume of 28416 shares. The stock had previously closed at $136.26.

Analyst Ratings Changes

Several equities research analysts recently commented on MLI shares. Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a research note on Tuesday, April 21st. 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. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy".

Mueller Industries Trading Up 2.3%

The firm has a 50 day simple moving average of $118.64 and a 200 day simple moving average of $116.69. The firm has a market capitalization of $15.42 billion, a PE ratio of 18.25 and a beta of 1.13.

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 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 the consensus estimate of $1.10 billion. During the same period last year, the business posted $1.39 EPS. The company's revenue was up 19.3% compared to the same quarter last year.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, March 13th. This represents a $1.40 annualized dividend and a yield of 1.0%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.25. Mueller Industries's dividend payout ratio (DPR) is 18.32%.

Insider Activity

In other news, Director Scott Jay Goldman sold 4,430 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the transaction, the director directly owned 41,645 shares of the company's stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the transaction, the director directly owned 90,664 shares of the company's stock, valued at $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,696 shares of company stock valued at $14,821,136 over the last three months. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLI. AQR Capital Management LLC raised its holdings in shares of Mueller Industries by 181.4% during the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock valued at $261,439,000 after purchasing an additional 1,666,891 shares during the last quarter. Norges Bank purchased a new stake in Mueller Industries during the fourth quarter valued at approximately $171,281,000. UBS Group AG increased its holdings in Mueller Industries by 837.0% during the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock valued at $129,819,000 after buying an additional 1,146,919 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Mueller Industries by 136.5% during the first quarter. Pictet Asset Management Holding SA now owns 1,674,939 shares of the industrial products company's stock valued at $185,561,000 after buying an additional 966,840 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Mueller Industries by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,528,013 shares of the industrial products company's stock valued at $290,216,000 after buying an additional 679,958 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

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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