Thrivent Financial for Lutherans Acquires 9,937 Shares of Mueller Industries, Inc. $MLI

Thrivent Financial for Lutherans boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 39.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,370 shares of the industrial products company’s stock after buying an additional 9,937 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Mueller Industries were worth $4,061,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC raised its position in Mueller Industries by 239.2% in the 3rd quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock valued at $1,430,000 after buying an additional 9,975 shares during the last quarter. Ballast Asset Management LP acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $3,057,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $7,158,000. Pallas Capital Advisors LLC increased its position in shares of Mueller Industries by 88.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 10,344 shares of the industrial products company’s stock worth $1,187,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Cibc World Market Inc. increased its position in shares of Mueller Industries by 22.8% during the 3rd quarter. Cibc World Market Inc. now owns 46,051 shares of the industrial products company’s stock worth $4,656,000 after purchasing an additional 8,545 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Down 0.2%

NYSE:MLI opened at $133.29 on Friday. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 17.45 and a beta of 1.13. Mueller Industries, Inc. has a twelve month low of $72.16 and a twelve month high of $141.51. The stock’s 50 day moving average price is $123.76 and its two-hundred day moving average price is $119.67.

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

Mueller Industries Announces Dividend

The firm 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries’s payout ratio is presently 18.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MLI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen raised Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries presently has an average rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In related news, CEO Gregory L. Christopher sold 103,266 shares of the business’s stock in a transaction that occurred on 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 directly owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. The trade was a 11.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.