Lecap Asset Management Ltd. Acquires Shares of 14,866 Mueller Industries, Inc. $MLI

Lecap Asset Management Ltd. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,866 shares of the industrial products company’s stock, valued at approximately $1,503,000.

Other hedge funds have also modified their holdings of the company. Entropy Technologies LP acquired a new position in Mueller Industries during the second quarter worth about $658,000. Ariose Capital Management Ltd purchased a new position in shares of Mueller Industries during the 3rd quarter worth approximately $3,904,000. Advisors Management Group Inc. ADV raised its position in shares of Mueller Industries by 51.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 51,024 shares of the industrial products company’s stock worth $4,055,000 after purchasing an additional 17,239 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Mueller Industries by 21.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock valued at $1,981,000 after buying an additional 4,370 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in Mueller Industries during the 2nd quarter valued at $859,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $119.14 on Thursday. The firm has a market cap of $13.23 billion, a P/E ratio of 17.78 and a beta of 1.04. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $120.47. The firm’s 50 day moving average price is $111.70 and its 200 day moving average price is $99.51.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. During the same quarter last year, the firm posted $1.48 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 5th. This represents a $1.00 annualized dividend and a yield of 0.8%. Mueller Industries’s dividend payout ratio is 14.93%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director directly owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. This trade represents a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $103.42, for a total transaction of $5,171,000.00. Following the transaction, the chief executive officer directly owned 1,069,241 shares of the company’s stock, valued at approximately $110,580,904.22. This represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 355,234 shares of company stock valued at $36,944,652. Insiders own 2.70% of the company’s stock.

Mueller Industries Company 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.