Mueller Industries, Inc. $MLI Stock Purchased by Vise Technologies Inc.

Vise Technologies Inc. boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 228.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 56,938 shares of the industrial products company’s stock after buying an additional 39,617 shares during the period. Vise Technologies Inc.’s holdings in Mueller Industries were worth $3,451,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Mueller Industries during the 2nd quarter worth $1,437,555,000. First Trust Advisors LP increased its position in shares of Mueller Industries by 0.6% in the 1st quarter. First Trust Advisors LP now owns 5,594,217 shares of the industrial products company’s stock worth $619,839,000 after purchasing an additional 33,248 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries in the 2nd quarter valued at about $244,156,000. Bank of New York Mellon Corp acquired a new stake in shares of Mueller Industries in the 2nd quarter valued at about $131,286,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Mueller Industries in the 2nd quarter valued at about $95,120,000. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

In other news, CEO Gregory Christopher sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the transaction, the chief executive officer directly owned 1,598,850 shares of the company’s stock, valued at approximately $109,425,294. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Goldman sold 2,000 shares of Mueller Industries 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 owned 79,734 shares in the company, valued at approximately $5,109,354.72. This represents a 2.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 274,000 shares of company stock valued at $18,762,560. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MLI has been the topic of several research analyst reports. Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, October 15th. Freedom Broker cut their price objective on Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Finally, Wall Street Zen upgraded Mueller Industries from a “hold” rating to a “buy” rating in a research note on Sunday. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.50.

Mueller Industries Trading Up 0.8%

NYSE MLI opened at $55.60 on Wednesday. Mueller Industries, Inc. has a 52 week low of $52.00 and a 52 week high of $71.12. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 14.26 and a beta of 1.01. The company has a 50-day moving average price of $60.05 and a two-hundred day moving average price of $62.17.

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

Mueller Industries Dividend Announcement

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

Mueller Industries Company Profile

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.