Mueller Industries, Inc. $MLI Shares Bought by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 100.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,132 shares of the industrial products company’s stock after buying an additional 51,566 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Mueller Industries were worth $6,251,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MLI. BlackRock Inc. acquired a new position in Mueller Industries in the second quarter worth $1,437,555,000. First Trust Advisors LP grew its position in shares of Mueller Industries by 0.6% during the first quarter. First Trust Advisors LP now owns 5,594,217 shares of the industrial products company’s stock worth $619,839,000 after acquiring an additional 33,248 shares during the last quarter. William Blair Investment Management LLC bought a new position in Mueller Industries in the 2nd quarter worth about $244,156,000. Pictet Asset Management Holding SA grew its holdings in Mueller Industries by 136.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,674,939 shares of the industrial products company’s stock worth $185,561,000 after buying an additional 966,840 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Mueller Industries during the 2nd quarter worth $131,286,000. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 2,444 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $67.72, for a total value of $165,507.68. Following the sale, the director owned 181,328 shares in the company, valued at approximately $12,279,532.16. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 200,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were 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 of the company’s stock, valued at $109,425,294. This represents a 11.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 275,444 shares of company stock worth $18,885,398 over the last 90 days. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

MLI has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Friday, July 17th. Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, July 16th. Finally, Wall Street Zen downgraded Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy” and a consensus price target of $75.00.

Mueller Industries Trading Down 1.3%

MLI stock traded down $0.81 during midday trading on Wednesday, reaching $60.70. The company had a trading volume of 1,191,194 shares, compared to its average volume of 1,514,363. The company has a 50 day moving average of $62.88 and a two-hundred day moving average of $63.41. The company has a market capitalization of $13.43 billion, a P/E ratio of 15.81 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $48.79 and a 1 year high of $71.12.

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

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 4th. Mueller Industries’s payout ratio is 18.23%.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and distributes products made from copper, brass, aluminum, steel and plastic. Its product portfolio includes copper and plastic pipe, fittings, valves, plumbing components, refrigeration and air-conditioning tubing, heat-transfer products, and other fabricated metal products.

The company serves residential, commercial, industrial and infrastructure markets. Its products are used in plumbing, heating, ventilation and air-conditioning systems, refrigeration, fire protection, water distribution, and various industrial applications.