46,534 Shares in Mueller Industries, Inc. $MLI Bought by JLB & Associates Inc.

JLB & Associates Inc. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 46,534 shares of the industrial products company’s stock, valued at approximately $5,342,000.

Other large investors also recently modified their holdings of the company. Savant Capital LLC increased its stake in Mueller Industries by 239.2% during the 3rd 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 in the last quarter. Ballast Asset Management LP bought a new position in Mueller Industries in the third quarter valued at approximately $3,057,000. Riggs Asset Managment Co. Inc. bought a new position in Mueller Industries in the third quarter valued at approximately $7,158,000. CPC Advisors LLC acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $6,579,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $1,503,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $137.75 on Friday. The firm has a market cap of $15.23 billion, a PE ratio of 18.03 and a beta of 1.13. The business’s 50 day simple moving average is $119.42 and its 200 day simple moving average is $117.25. Mueller Industries, Inc. has a 52-week low of $72.16 and a 52-week high of $140.84.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The business’s revenue was up 19.3% on a year-over-year basis.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries’s payout ratio is 18.32%.

Analyst Upgrades and Downgrades

MLI has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report 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, the company presently has an average rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction on 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 in the company, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory L. Christopher sold 103,266 shares of the 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 transaction, the chief executive officer owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 108,696 shares of company stock worth $14,821,136. Insiders own 2.30% of the company’s stock.

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.