Mueller Industries (NYSE:MLI) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Mueller Industries (NYSE:MLI) from a buy rating to a strong-buy rating in a report issued on Sunday morning.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Mueller Industries Trading Down 0.1%

Shares of NYSE:MLI opened at $136.34 on Friday. The company has a 50 day moving average of $121.87 and a 200-day moving average of $118.77. The firm has a market cap of $15.07 billion, a P/E ratio of 17.85 and a beta of 1.13. Mueller Industries has a twelve month low of $72.16 and a twelve month high of $141.51.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $1.39 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 5th. Mueller Industries’s dividend payout ratio is 18.32%.

Insider Activity at Mueller Industries

In related news, CEO Gregory L. Christopher sold 103,266 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the sale, the chief executive officer owned 804,911 shares in the company, valued at approximately $110,506,231.19. This represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Mueller Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp grew its stake in Mueller Industries by 2.2% during the 4th quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 75 shares in the last quarter. US Asset Management LLC grew its stake in Mueller Industries by 3.5% during the 4th quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 81 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in Mueller Industries by 28.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company’s stock valued at $41,000 after buying an additional 82 shares during the period. Root Financial Partners LLC increased its stake in Mueller Industries by 19.6% in the 1st quarter. Root Financial Partners LLC now owns 512 shares of the industrial products company’s stock valued at $57,000 after buying an additional 84 shares during the period. Finally, Florida Financial Advisors LLC increased its stake in Mueller Industries by 3.7% in the 4th quarter. Florida Financial Advisors LLC now owns 2,510 shares of the industrial products company’s stock valued at $288,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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.