Mueller Industries, Inc. $MLI Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 95.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,273 shares of the industrial products company’s stock after acquiring an additional 9,404 shares during the period. Nisa Investment Advisors LLC’s holdings in Mueller Industries were worth $1,168,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MLI. Alpine Bank Wealth Management purchased a new position in Mueller Industries during the 3rd quarter valued at about $25,000. Activest Wealth Management increased its position in shares of Mueller Industries by 80.4% during the third quarter. Activest Wealth Management now owns 424 shares of the industrial products company’s stock valued at $26,000 after buying an additional 189 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Mueller Industries during the second quarter valued at about $29,000. Arlington Trust Co LLC purchased a new stake in shares of Mueller Industries in the second quarter worth about $30,000. Finally, NBT Bank N A NY lifted its holdings in shares of Mueller Industries by 148.7% in the first quarter. NBT Bank N A NY now owns 286 shares of the industrial products company’s stock worth $32,000 after buying an additional 171 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MLI. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, October 15th. Freedom Broker decreased their target price on shares of Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Wall Street Zen lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Northcoast Research upgraded shares of 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. Three equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $75.50.

Insider Transactions at Mueller Industries

In related news, CEO Gregory L. Christopher sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total value of $13,688,000.00. Following the completion of the sale, the chief executive officer owned 1,598,850 shares in the company, valued at $109,425,294. The trade was a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Goldman sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the sale, the director owned 79,734 shares of the company’s stock, valued at $5,109,354.72. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 275,444 shares of company stock worth $18,885,398. 2.30% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $54.48 on Tuesday. Mueller Industries, Inc. has a 52-week low of $51.20 and a 52-week high of $71.12. The firm has a fifty day moving average of $61.07 and a 200 day moving average of $62.37. The firm has a market capitalization of $11.87 billion, a PE ratio of 13.97 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 net margin of 17.26% and a return on equity of 25.23%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company earned $1.88 EPS. The firm’s revenue was up 31.6% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were issued a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, September 4th. 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.