Universal Beteiligungs und Servicegesellschaft mbH Purchases 5,775 Shares of Mueller Industries, Inc. $MLI
by Doug Wharley · The Cerbat GemUniversal Beteiligungs und Servicegesellschaft mbH increased its stake in Mueller Industries, Inc. (NYSE:MLI – Free Report) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 141,698 shares of the industrial products company’s stock after buying an additional 5,775 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.13% of Mueller Industries worth $16,274,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its stake in Mueller Industries by 239.2% during the third quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock worth $1,430,000 after purchasing an additional 9,975 shares during the last quarter. Ballast Asset Management LP bought a new position in Mueller Industries during the third quarter worth $3,057,000. Ariose Capital Management Ltd bought a new position in Mueller Industries during the third quarter worth $3,904,000. Riggs Asset Managment Co. Inc. bought a new position in Mueller Industries during the third quarter worth $7,158,000. Finally, Lecap Asset Management Ltd. bought a new position in Mueller Industries during the third quarter worth $1,503,000. Institutional investors own 94.50% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on MLI. Wall Street Zen upgraded Mueller Industries from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.
View Our Latest Stock Analysis on Mueller Industries
Insider Transactions at Mueller Industries
In related news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director directly owned 41,645 shares in the company, valued at $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. 2.30% of the stock is owned by insiders.
Mueller Industries Stock Performance
MLI stock opened at $135.97 on Friday. Mueller Industries, Inc. has a 1 year low of $71.54 and a 1 year high of $139.68. The stock’s fifty day moving average is $116.99 and its two-hundred day moving average is $115.28. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 17.80 and a beta of 1.07.
Mueller Industries (NYSE:MLI – Get Free Report) last issued its quarterly earnings data 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. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis.
Mueller Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.35 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, March 13th. Mueller Industries’s dividend payout ratio (DPR) 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.