211,522 Shares in Mueller Industries, Inc. $MLI Acquired by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension acquired a new position in Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 211,522 shares of the industrial products company’s stock, valued at approximately $24,283,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. purchased a new position in Mueller Industries in the 4th quarter worth approximately $341,000. Allworth Financial LP raised its holdings in Mueller Industries by 94.8% in the 4th quarter. Allworth Financial LP now owns 3,424 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 1,666 shares during the last quarter. Freemont Management S.A. raised its holdings in Mueller Industries by 196.4% in the 4th quarter. Freemont Management S.A. now owns 16,600 shares of the industrial products company’s stock worth $1,906,000 after acquiring an additional 11,000 shares during the last quarter. Legacy Financial Advisors Inc. purchased a new position in Mueller Industries in the 4th quarter worth approximately $292,000. Finally, Versor Investments LP purchased a new position in Mueller Industries in the 4th quarter worth approximately $667,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MLI. Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries currently has an average rating of “Buy”.

Mueller Industries Price Performance

Shares of MLI stock opened at $139.34 on Friday. Mueller Industries, Inc. has a 1 year low of $72.16 and a 1 year high of $141.51. The firm has a fifty day moving average price of $121.52 and a 200-day moving average price of $118.54. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 18.24 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) 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 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 previous year, the firm posted $1.39 EPS. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.0%. Mueller Industries’s dividend payout ratio is currently 18.32%.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction 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 owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.