Mueller Industries, Inc. $MLI Stock Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 102.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,056 shares of the industrial products company’s stock after purchasing an additional 13,203 shares during the period. Quadrant Capital Group LLC’s holdings in Mueller Industries were worth $1,603,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in shares of Mueller Industries during the 3rd quarter valued at $25,000. Activest Wealth Management grew its position in shares of Mueller Industries by 80.4% in the 3rd quarter. Activest Wealth Management now owns 424 shares of the industrial products company’s stock worth $26,000 after buying an additional 189 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Mueller Industries in the 2nd quarter worth about $29,000. Arlington Trust Co LLC bought a new position in shares of Mueller Industries in the 2nd quarter worth about $30,000. Finally, NBT Bank N A NY increased its stake in shares of Mueller Industries by 148.7% in the 1st quarter. NBT Bank N A NY now owns 286 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott Goldman sold 2,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $64.08, for a total transaction of $128,160.00. Following the sale, the director directly owned 79,734 shares of the company’s stock, valued at approximately $5,109,354.72. This represents a 2.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Christopher sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the sale, the chief executive officer owned 1,598,850 shares of the company’s stock, valued at approximately $109,425,294. This represents a 11.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 275,444 shares of company stock worth $18,885,398 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Mueller Industries Trading Down 5.4%

Mueller Industries stock opened at $54.43 on Friday. The business’s fifty day simple moving average is $61.49 and its two-hundred day simple moving average is $63.59. Mueller Industries, Inc. has a 12 month low of $51.20 and a 12 month high of $71.12. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 13.96 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 20th. The industrial products company reported $1.00 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 analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $1.88 earnings per share. The company’s revenue was up 31.6% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.1750 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.70 dividend on an annualized basis and a yield of 1.3%. Mueller Industries’s payout ratio is presently 17.95%.

Analyst Ratings Changes

MLI has been the subject of a number of recent research reports. Wall Street Zen cut shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, October 15th. Freedom Broker cut their price objective on shares of Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, July 16th. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat, Mueller Industries has a consensus rating of “Buy” and an average target price of $75.50.

About Mueller Industries

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.