Mueller Industries, Inc. $MLI Holdings Increased by Lido Advisors LLC

Lido Advisors LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 98.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,618 shares of the industrial products company’s stock after purchasing an additional 16,183 shares during the quarter. Lido Advisors LLC’s holdings in Mueller Industries were worth $1,977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MLI. Kera Capital Partners Inc. boosted its stake in Mueller Industries by 7.8% during the 1st quarter. Kera Capital Partners Inc. now owns 2,507 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 182 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Mueller Industries by 42.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 625 shares of the industrial products company’s stock valued at $77,000 after buying an additional 186 shares during the last quarter. Activest Wealth Management lifted its stake in shares of Mueller Industries by 80.4% in the third quarter. Activest Wealth Management now owns 424 shares of the industrial products company’s stock worth $26,000 after buying an additional 189 shares in the last quarter. Earned Wealth Advisors LLC lifted its stake in shares of Mueller Industries by 9.2% in the first quarter. Earned Wealth Advisors LLC now owns 2,627 shares of the industrial products company’s stock worth $291,000 after buying an additional 222 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Mueller Industries in the second quarter worth about $29,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $55.40, for a total transaction of $110,800.00. Following the completion of the sale, the director directly owned 179,078 shares in the company, valued at approximately $9,920,921.20. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Goldman sold 2,000 shares of Mueller Industries stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $64.08, for a total transaction of $128,160.00. Following the transaction, the director directly owned 79,734 shares in the company, valued at $5,109,354.72. This trade represents a 2.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.30% of the company’s stock.

Mueller Industries Trading Up 0.1%

NYSE MLI traded up $0.05 on Friday, reaching $54.89. 1,082,850 shares of the company were exchanged, compared to its average volume of 1,974,239. The business’s fifty day moving average price is $58.73 and its 200 day moving average price is $61.69. The stock has a market capitalization of $11.97 billion, a P/E ratio of 14.08 and a beta of 1.01. Mueller Industries, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $71.12.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08). Mueller Industries had a return on equity of 25.23% and a net margin of 17.26%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $1.88 earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $0.1750 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.70 annualized dividend and a dividend yield of 1.3%. Mueller Industries’s payout ratio is presently 17.95%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MLI. Wall Street Zen upgraded shares of Mueller Industries from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, October 15th. Finally, Freedom Broker cut their price objective on shares of Mueller Industries from $80.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Three research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $75.50.

About Mueller Industries

Mueller Industries, Inc. manufactures and markets products used in plumbing, heating, ventilation and air conditioning (HVAC), refrigeration, and industrial applications. Its products include copper tube and fittings, valves, line sets, brass rod and forgings, and plastic plumbing products. The company serves customers across a range of markets, including construction, HVAC and refrigeration, automotive, and industrial manufacturing. Its operations and sales reach North America and international markets, including Europe and Asia.