Gamco Investors INC. ET AL Cuts Stock Holdings in Mueller Industries, Inc. $MLI

Gamco Investors INC. ET AL lessened its holdings in Mueller Industries, Inc. (NYSE:MLI) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,867,244 shares of the industrial products company’s stock after selling 326,668 shares during the period. Mueller Industries makes up approximately 2.1% of Gamco Investors INC. ET AL’s holdings, making the stock its biggest holding. Gamco Investors INC. ET AL’s holdings in Mueller Industries were worth $214,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MLI. JFS Wealth Advisors LLC grew its position in shares of Mueller Industries by 121.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after buying an additional 138 shares in the last quarter. Activest Wealth Management bought a new position in shares of Mueller Industries during the 4th quarter worth $27,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Mueller Industries by 228.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after buying an additional 215 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Mueller Industries during the 3rd quarter worth $38,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after buying an additional 261 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $136.34 on Monday. The stock has a market capitalization of $15.07 billion, a P/E ratio of 17.85 and a beta of 1.13. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $141.51. The business has a fifty day moving average price of $121.87 and a 200 day moving average price of $118.77.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data 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. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 5th. Mueller Industries’s dividend payout ratio is 18.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company 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 company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 804,911 shares in the company, valued at $110,506,231.19. This represents a 11.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

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.