Diversified Trust Co Purchases New Position in Mueller Industries, Inc. $MLI

Diversified Trust Co purchased a new stake in Mueller Industries, Inc. (NYSE:MLI) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,465 shares of the industrial products company’s stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLI. waypoint wealth counsel acquired a new stake in shares of Mueller Industries in the 3rd quarter valued at $328,000. Ethic Inc. boosted its position in Mueller Industries by 178.6% in the third quarter. Ethic Inc. now owns 8,670 shares of the industrial products company’s stock valued at $877,000 after buying an additional 5,558 shares in the last quarter. Archford Capital Strategies LLC bought a new stake in Mueller Industries during the third quarter worth about $969,000. Perigon Wealth Management LLC acquired a new stake in shares of Mueller Industries during the third quarter worth approximately $395,000. Finally, BankPlus Trust Department raised its stake in shares of Mueller Industries by 67.5% in the third quarter. BankPlus Trust Department now owns 10,661 shares of the industrial products company’s stock valued at $1,078,000 after acquiring an additional 4,296 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Up 1.8%

MLI opened at $116.81 on Friday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $118.91. The stock has a market capitalization of $12.97 billion, a PE ratio of 17.43 and a beta of 1.04. The firm has a 50-day moving average price of $110.80 and a two-hundred day moving average price of $98.35.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. Mueller Industries’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $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 0.9%. The ex-dividend date was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is presently 14.93%.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director owned 41,745 shares in the company, valued at $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the completion of the sale, the director owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. The trade was a 1.08% 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. Company insiders own 2.70% of the company’s stock.

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.