QRG Capital Management Inc. Has $2 Million Stock Holdings in Mueller Industries, Inc. $MLI

QRG Capital Management Inc. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 80.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,739 shares of the industrial products company’s stock after selling 82,035 shares during the quarter. QRG Capital Management Inc.’s holdings in Mueller Industries were worth $1,996,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its position in shares of Mueller Industries by 3.9% during the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 134 shares in the last quarter. CW Advisors LLC boosted its position in Mueller Industries by 4.0% in the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock valued at $289,000 after buying an additional 140 shares during the last quarter. Total Wealth Planning & Management Inc. increased its stake in shares of Mueller Industries by 2.5% in the 2nd quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock valued at $473,000 after buying an additional 144 shares during the period. Harbour Investments Inc. raised its position in shares of Mueller Industries by 0.4% during the second quarter. Harbour Investments Inc. now owns 53,140 shares of the industrial products company’s stock worth $4,223,000 after acquiring an additional 187 shares during the last quarter. Finally, Crestmont Private Wealth LLC lifted its stake in shares of Mueller Industries by 2.0% during the second quarter. Crestmont Private Wealth LLC now owns 9,696 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 189 shares during the period. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In related news, CEO Gregory L. Christopher sold 158,000 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $104.32, for a total value of $16,482,560.00. Following the completion of the sale, the chief executive officer owned 1,119,241 shares in the company, valued at $116,759,221.12. This represents a 12.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 355,234 shares of company stock valued at $36,944,652 in the last quarter. Company insiders own 2.70% of the company’s stock.

Mueller Industries Trading Up 1.7%

Shares of MLI opened at $132.95 on Tuesday. The stock has a market cap of $14.76 billion, a P/E ratio of 19.84 and a beta of 1.04. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $133.43. The stock’s 50-day moving average price is $114.98 and its two-hundred day moving average price is $102.32.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, Mueller Industries has a consensus rating of “Buy”.

About Mueller Industries

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.