Mueller Industries, Inc. $MLI Shares Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 60.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 90,342 shares of the industrial products company’s stock after purchasing an additional 33,981 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Mueller Industries were worth $11,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MLI. BlackRock Inc. acquired a new position in Mueller Industries during the 2nd quarter worth $1,437,555,000. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the second quarter valued at $244,156,000. AQR Capital Management LLC raised its stake in shares of Mueller Industries by 181.4% during the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock valued at $261,439,000 after purchasing an additional 1,666,891 shares in the last quarter. Norges Bank bought a new stake in shares of Mueller Industries during the fourth quarter valued at about $171,281,000. Finally, UBS Group AG lifted its holdings in Mueller Industries by 837.0% in the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock worth $129,819,000 after purchasing an additional 1,146,919 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $64.08, for a total transaction of $128,160.00. Following the transaction, the director owned 79,734 shares in the company, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 200,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the transaction, the chief executive officer directly owned 1,598,850 shares in the company, valued at $109,425,294. The trade was a 11.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 275,444 shares of company stock worth $18,885,398 in the last 90 days. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MLI shares. Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $75.00.

Mueller Industries Trading Down 0.0%

NYSE:MLI opened at $62.79 on Monday. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 16.35 and a beta of 1.11. Mueller Industries, Inc. has a twelve month low of $47.11 and a twelve month high of $71.12. The company has a 50-day moving average of $63.17 and a 200-day moving average of $62.62.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.27 billion. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The company’s revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.175 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.70 dividend on an annualized basis and a yield of 1.1%. Mueller Industries’s dividend payout ratio is currently 18.23%.

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.