Capital Fund Management S.A. Makes New Investment in Mueller Industries, Inc. $MLI

Capital Fund Management S.A. acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 53,612 shares of the industrial products company’s stock, valued at approximately $4,261,000.

A number of other institutional investors and hedge funds have also modified their holdings of MLI. Elevation Point Wealth Partners LLC purchased a new position in Mueller Industries in the 2nd quarter valued at about $119,000. Employees Retirement System of Texas acquired a new position in shares of Mueller Industries during the second quarter valued at approximately $34,000. Northwest & Ethical Investments L.P. lifted its position in shares of Mueller Industries by 70.1% in the second quarter. Northwest & Ethical Investments L.P. now owns 11,400 shares of the industrial products company’s stock valued at $908,000 after acquiring an additional 4,700 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Mueller Industries by 22.2% in the second quarter. Russell Investments Group Ltd. now owns 165,203 shares of the industrial products company’s stock valued at $13,129,000 after acquiring an additional 29,984 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new stake in shares of Mueller Industries in the second quarter worth approximately $1,267,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $109.68 on Tuesday. The stock has a 50 day moving average price of $103.95 and a 200 day moving average price of $92.32. The stock has a market cap of $12.18 billion, a PE ratio of 16.37 and a beta of 1.04. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $111.39.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $942.00 million. During the same quarter in the previous year, the company earned $1.48 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $105.00.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total transaction of $105,710.00. Following the completion of the sale, the director directly owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. This trade represents a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 355,234 shares of company stock valued at $36,944,652 over the last ninety days. Company insiders own 2.70% of the company’s stock.

About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.