Thrivent Financial for Lutherans Has $4.06 Million Position in Mueller Industries, Inc. $MLI

Thrivent Financial for Lutherans increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 39.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,370 shares of the industrial products company’s stock after acquiring an additional 9,937 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Mueller Industries were worth $4,061,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Fifth Third Bancorp increased its holdings in shares of Mueller Industries by 2.2% during the 4th quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 75 shares during the last quarter. US Asset Management LLC increased its holdings in shares of 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 worth $278,000 after acquiring an additional 81 shares during the last quarter. Covestor Ltd boosted its stake in Mueller Industries by 5.1% in the 3rd quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 105 shares during the period. UMB Bank n.a. boosted its stake 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 purchasing an additional 115 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its stake in Mueller Industries by 3.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,546 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 116 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLI has been the subject of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen upgraded Mueller Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries has an average rating of “Buy”.

Mueller Industries Price Performance

MLI opened at $133.29 on Friday. The business has a fifty day simple moving average of $123.76 and a 200 day simple moving average of $119.67. The company has a market capitalization of $14.74 billion, a PE ratio of 17.45 and a beta of 1.13. Mueller Industries, Inc. has a 1 year low of $72.16 and a 1 year high of $141.51.

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

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Mueller Industries’s dividend payout ratio is presently 18.32%.

Insider Buying and Selling at Mueller Industries

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