KLP Kapitalforvaltning AS Increases Position in Mueller Industries, Inc. $MLI

KLP Kapitalforvaltning AS lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 33.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,000 shares of the industrial products company’s stock after purchasing an additional 8,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Mueller Industries were worth $3,438,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Entropy Technologies LP acquired a new stake in shares of Mueller Industries during the 2nd quarter worth about $658,000. Ariose Capital Management Ltd purchased a new position in Mueller Industries in the third quarter valued at approximately $3,904,000. Advisors Management Group Inc. ADV raised its holdings in Mueller Industries by 51.0% during the second quarter. Advisors Management Group Inc. ADV now owns 51,024 shares of the industrial products company’s stock worth $4,055,000 after purchasing an additional 17,239 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Mueller Industries by 21.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock worth $1,981,000 after buying an additional 4,370 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $859,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the completion of the sale, the director directly owned 91,664 shares of the company’s stock, valued at $9,689,801.44. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Jay Goldman sold 4,234 shares of Mueller Industries stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the transaction, the director owned 41,745 shares in the company, valued at approximately $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 355,234 shares of company stock valued at $36,944,652. 2.70% of the stock is owned by company insiders.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $123.58 on Friday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $123.95. The stock has a market cap of $13.72 billion, a P/E ratio of 18.45 and a beta of 1.04. The firm has a fifty day moving average price of $112.37 and a 200 day moving average price of $99.98.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $942.00 million. During the same period in the previous year, the company posted $1.48 earnings per share. Mueller Industries’s quarterly revenue was up 8.0% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Mueller Industries 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.