Sanctuary Advisors LLC Raises Position in Mueller Industries, Inc. (NYSE:MLI)

Sanctuary Advisors LLC grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 27.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 13,373 shares of the industrial products company’s stock after acquiring an additional 2,918 shares during the period. Sanctuary Advisors LLC’s holdings in Mueller Industries were worth $991,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. purchased a new stake in shares of Mueller Industries in the second quarter worth $28,000. GAMMA Investing LLC increased its holdings in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter worth about $41,000. Finally, Larson Financial Group LLC boosted its stake in Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.9 %

Shares of MLI opened at $80.18 on Monday. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 15.57 and a beta of 0.99. The business’s fifty day simple moving average is $83.08 and its two-hundred day simple moving average is $71.50. Mueller Industries, Inc. has a 12 month low of $44.39 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. Mueller Industries’s payout ratio is 15.53%.

Insider Activity at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, December 11th.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.