Rockefeller Capital Management L.P. Has $4.52 Million Holdings in Mueller Industries, Inc. $MLI

Rockefeller Capital Management L.P. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 82.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,926 shares of the industrial products company’s stock after selling 270,215 shares during the period. Rockefeller Capital Management L.P. owned 0.05% of Mueller Industries worth $4,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group increased its holdings in shares of Mueller Industries by 267.3% during the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 278 shares during the last quarter. Rise Advisors LLC bought a new position in Mueller Industries during the first quarter worth $30,000. Maseco LLP acquired a new position in shares of Mueller Industries in the second quarter valued at $40,000. Dagco Inc. acquired a new position in shares of Mueller Industries in the first quarter valued at $77,000. Finally, Ridgewood Investments LLC bought a new position in shares of Mueller Industries in the first quarter valued at about $78,000. 94.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $105.00.

Mueller Industries Stock Up 2.0%

NYSE MLI opened at $106.63 on Friday. The company has a market capitalization of $11.84 billion, a P/E ratio of 15.91 and a beta of 1.04. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $109.90. The firm has a 50-day moving average price of $102.73 and a two-hundred day moving average price of $90.72.

Mueller Industries (NYSE:MLI) last issued its quarterly 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). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 earnings per share.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Mueller Industries’s dividend payout ratio is 14.93%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the completion of the transaction, the director owned 91,664 shares of the company’s stock, valued at $9,689,801.44. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory L. Christopher sold 158,000 shares of the stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total transaction of $16,482,560.00. Following the sale, the chief executive officer owned 1,119,241 shares in the company, valued at $116,759,221.12. The trade was a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 351,000 shares of company stock worth $36,484,670 in the last 90 days. 2.70% of the stock is owned by company insiders.

Mueller Industries Profile

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.