Mueller Industries, Inc. $MLI Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC raised its stake in Mueller Industries, Inc. (NYSE:MLI) by 82.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,842 shares of the industrial products company’s stock after acquiring an additional 4,454 shares during the period. Gallacher Capital Management LLC’s holdings in Mueller Industries were worth $995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aviance Capital Partners LLC grew its position in 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 worth $428,000 after purchasing an additional 97 shares during the last quarter. Covestor Ltd grew its holdings in Mueller Industries by 5.1% in the 3rd quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock worth $218,000 after buying an additional 105 shares in the last quarter. UMB Bank n.a. increased its position in 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 acquiring an additional 115 shares during the period. Wedbush Securities Inc. increased its position in Mueller Industries by 3.9% in the 2nd quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 134 shares during the period. Finally, CW Advisors LLC raised its stake in Mueller Industries by 4.0% during the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 140 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries presently has a consensus rating of “Buy”.

Mueller Industries Stock Down 7.3%

NYSE:MLI opened at $114.63 on Thursday. The business’s 50-day moving average price is $120.90 and its 200 day moving average price is $106.17. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $139.29. The firm has a market cap of $12.73 billion, a P/E ratio of 16.69 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.28). Mueller Industries had a return on equity of 24.70% and a net margin of 18.31%.The business had revenue of $962.39 million during the quarter, compared to analyst estimates of $928.00 million. During the same period in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Mueller Industries’s dividend payout ratio (DPR) is currently 14.56%.

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.