Perpetual Ltd Has $11.29 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Perpetual Ltd lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 21.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,287 shares of the industrial products company’s stock after selling 38,687 shares during the quarter. Perpetual Ltd owned about 0.13% of Mueller Industries worth $11,292,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. acquired a new stake in Mueller Industries in the 2nd quarter worth about $28,000. GAMMA Investing LLC raised its position in shares of Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the third quarter valued at approximately $41,000. City State Bank acquired a new stake in Mueller Industries during the fourth quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. bought a new position in Mueller Industries during the 3rd quarter worth $64,000. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Up 0.2 %

MLI stock opened at $81.98 on Tuesday. The company’s 50-day moving average price is $82.30 and its two-hundred day moving average price is $75.21. The firm has a market cap of $9.32 billion, a P/E ratio of 15.92 and a beta of 1.00. Mueller Industries, Inc. has a 12 month low of $45.20 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Wednesday, December 11th.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.