11,293 Mueller Industries, Inc. $MLI Shares Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 73.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,772 shares of the industrial products company’s stock after acquiring an additional 11,293 shares during the quarter. Kestra Investment Management LLC’s holdings in Mueller Industries were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Kera Capital Partners Inc. boosted its stake in Mueller Industries by 7.8% during the first quarter. Kera Capital Partners Inc. now owns 2,507 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 182 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Mueller Industries by 42.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 625 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 186 shares during the period. Activest Wealth Management increased its stake in shares of Mueller Industries by 80.4% during the third quarter. Activest Wealth Management now owns 424 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Earned Wealth Advisors LLC increased its stake in shares of Mueller Industries by 9.2% during the first quarter. Earned Wealth Advisors LLC now owns 2,627 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 222 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Mueller Industries during the second quarter valued at approximately $29,000. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MLI. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, October 15th. Freedom Broker cut their price target on Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, July 16th. Finally, Wall Street Zen raised Mueller Industries from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.50.

Insider Buying and Selling

In related news, Director Scott Goldman sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the transaction, the director directly owned 79,734 shares in the company, valued at $5,109,354.72. The trade was a 2.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $55.40, for a total transaction of $110,800.00. Following the completion of the transaction, the director owned 179,078 shares of the company’s stock, valued at approximately $9,920,921.20. The trade was a 1.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.30% of the company’s stock.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $55.03 on Wednesday. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 14.11 and a beta of 1.01. The firm’s 50-day moving average is $59.15 and its 200 day moving average is $61.86. Mueller Industries, Inc. has a 1 year low of $52.00 and a 1 year high of $71.12.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.28 billion. Mueller Industries had a net margin of 17.26% and a return on equity of 25.23%. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.88 earnings per share.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, December 4th. Mueller Industries’s dividend payout ratio is currently 17.95%.

Mueller Industries Company Profile

Mueller Industries, Inc. manufactures and markets products used in plumbing, heating, ventilation and air conditioning (HVAC), refrigeration, and industrial applications. Its products include copper tube and fittings, valves, line sets, brass rod and forgings, and plastic plumbing products. The company serves customers across a range of markets, including construction, HVAC and refrigeration, automotive, and industrial manufacturing. Its operations and sales reach North America and international markets, including Europe and Asia.