Brighton Jones LLC Invests $1.08 Million in Mueller Industries, Inc. $MLI

Brighton Jones LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,644 shares of the industrial products company’s stock, valued at approximately $1,076,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $127,287,000. Qube Research & Technologies Ltd acquired a new position in Mueller Industries during the second quarter valued at approximately $75,901,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Mueller Industries during the second quarter worth approximately $54,751,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Mueller Industries in the second quarter worth $36,974,000. Finally, AQR Capital Management LLC raised its stake in shares of Mueller Industries by 329.0% in the 1st quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company’s stock valued at $43,926,000 after acquiring an additional 451,261 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $103.42, for a total transaction of $5,171,000.00. Following the completion of the sale, the chief executive officer owned 1,069,241 shares in the company, valued at $110,580,904.22. This trade represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director owned 91,664 shares in the company, valued at $9,689,801.44. This represents a 1.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 355,234 shares of company stock worth $36,944,652 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Up 1.5%

Shares of NYSE:MLI opened at $119.09 on Thursday. The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 17.77 and a beta of 1.04. The company has a 50 day moving average of $108.70 and a two-hundred day moving average of $96.53. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $118.91.

Mueller Industries (NYSE:MLI) last posted 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). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 earnings per share.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.25 dividend. 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 is presently 14.93%.

Wall Street Analysts Forecast Growth

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

Mueller Industries Company 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.