News

Jun 11, 2023

Miller Howard Investments Inc. NY Invests $253,000 in Mueller Industries, Inc. (NYSE:MLI)

Miller Howard Investments Inc. NY acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to its most recent filing with the Securities

Miller Howard Investments Inc. NY acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,438 shares of the industrial products company's stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLI. Norges Bank acquired a new position in Mueller Industries in the 4th quarter worth about $39,197,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Mueller Industries during the 1st quarter worth approximately $29,681,000. Goldman Sachs Group Inc. boosted its position in Mueller Industries by 78.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,688 shares of the industrial products company's stock worth $29,018,000 after buying an additional 236,056 shares during the period. Premier Fund Managers Ltd acquired a new position in Mueller Industries in the 4th quarter valued at approximately $10,910,000. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Mueller Industries by 239.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 285,495 shares of the industrial products company's stock valued at $16,844,000 after acquiring an additional 201,438 shares during the last quarter. Institutional investors own 95.39% of the company's stock.

Separately, StockNews.com lowered Mueller Industries from a "buy" rating to a "hold" rating in a research report on Monday.

Shares of MLI opened at $89.00 on Tuesday. The business has a 50-day moving average of $82.91 and a 200-day moving average of $74.93. Mueller Industries, Inc. has a 1 year low of $57.10 and a 1 year high of $91.93. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 7.70 and a beta of 1.12.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $3.07 earnings per share (EPS) for the quarter. Mueller Industries had a net margin of 17.07% and a return on equity of 38.46%. The firm had revenue of $971.19 million during the quarter.

The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were issued a $0.30 dividend. The ex-dividend date was Thursday, June 1st. This represents a $1.20 annualized dividend and a yield of 1.35%. Mueller Industries's payout ratio is 10.07%.

In other news, CEO Gregory L. Christopher sold 13,800 shares of Mueller Industries stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $79.64, for a total value of $1,099,032.00. Following the completion of the transaction, the chief executive officer now directly owns 78,900 shares of the company's stock, valued at approximately $6,283,596. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gregory L. Christopher sold 6,449 shares of the company's stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $78.06, for a total transaction of $503,408.94. Following the transaction, the chief executive officer now owns 72,260 shares in the company, valued at $5,640,615.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 13,800 shares of the firm's stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $79.64, for a total value of $1,099,032.00. Following the completion of the sale, the chief executive officer now owns 78,900 shares of the company's stock, valued at $6,283,596. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,740 shares of company stock valued at $3,829,981. 3.00% of the stock is currently owned by insiders.

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Mueller Industries, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.

While Mueller Industries currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2023 and why they should be in your portfolio.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.