140,540 Mueller Industries, Inc. $MLI Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 127.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 251,044 shares of the industrial products company’s stock after acquiring an additional 140,540 shares during the period. Sterling Capital Management LLC owned 0.11% of Mueller Industries worth $15,216,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Mueller Industries in the 2nd quarter valued at about $1,437,555,000. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries in the second quarter valued at approximately $244,156,000. Bank of New York Mellon Corp bought a new stake in shares of Mueller Industries during the second quarter valued at approximately $131,286,000. Pictet Asset Management Holding SA raised its holdings in shares of Mueller Industries by 136.5% during the first quarter. Pictet Asset Management Holding SA now owns 1,674,939 shares of the industrial products company’s stock valued at $185,561,000 after buying an additional 966,840 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Mueller Industries during the second quarter valued at approximately $95,120,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $68.13, for a total transaction of $68,130.00. Following the transaction, the director directly owned 29,000 shares in the company, valued at approximately $1,975,770. This trade represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Goldman sold 2,000 shares of Mueller Industries stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $64.08, for a total value of $128,160.00. Following the transaction, the director owned 79,734 shares in the company, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 275,444 shares of company stock valued at $18,885,398 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Freedom Broker decreased their price objective on Mueller Industries from $80.00 to $76.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, October 15th. Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, July 16th. Finally, Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $75.50.

Mueller Industries Stock Down 0.7%

Mueller Industries stock traded down $0.40 during trading hours on Friday, hitting $54.13. 2,098,761 shares of the company traded hands, compared to its average volume of 1,575,034. The firm has a market cap of $11.80 billion, a P/E ratio of 13.88 and a beta of 1.08. The firm’s 50-day simple moving average is $61.26 and its two-hundred day simple moving average is $63.52. Mueller Industries, Inc. has a 1-year low of $51.20 and a 1-year high of $71.12.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a dividend of $0.1750 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.70 annualized dividend and a yield of 1.3%. Mueller Industries’s 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.