CPC Advisors LLC Has $7 Million Stock Holdings in Mueller Industries, Inc. $MLI

CPC Advisors LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,980 shares of the industrial products company’s stock after selling 4,086 shares during the quarter. CPC Advisors LLC owned 0.05% of Mueller Industries worth $7,001,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. US Asset Management LLC raised its stake in shares of Mueller Industries by 3.5% in the 4th quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock valued at $278,000 after buying an additional 81 shares in the last quarter. Aviance Capital Partners LLC raised its stake in shares of Mueller Industries by 2.3% in the 3rd quarter. Aviance Capital Partners LLC now owns 4,235 shares of the industrial products company’s stock valued at $428,000 after buying an additional 97 shares in the last quarter. Covestor Ltd raised its stake in shares of Mueller Industries by 5.1% in the 3rd quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock valued at $218,000 after buying an additional 105 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Mueller Industries by 2.2% in the 3rd quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock valued at $545,000 after buying an additional 115 shares in the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Mueller Industries by 2.4% in the 3rd quarter. Lido Advisors LLC now owns 5,001 shares of the industrial products company’s stock valued at $506,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. This represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the sale, the director directly owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

MLI opened at $134.70 on Wednesday. The firm’s 50-day simple moving average is $116.04 and its 200-day simple moving average is $114.63. Mueller Industries, Inc. has a twelve month low of $68.39 and a twelve month high of $139.29. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 19.61 and a beta of 1.07.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.67. Mueller Industries had a net margin of 18.31% and a return on equity of 24.70%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.25. Mueller Industries’s payout ratio is currently 20.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries presently 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.