Truist Financial Corp boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI – Free Report) by 102.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,142 shares of the industrial products company’s stock after buying an additional 7,668 shares during the period. Truist Financial Corp’s holdings in Mueller Industries were worth $714,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in MLI. Fifth Third Bancorp increased its position in shares of Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new stake in shares of Mueller Industries during the 3rd quarter worth $30,000. Versant Capital Management Inc grew its position in Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 487 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Mueller Industries in the third quarter valued at $52,000. 94.50% of the stock is currently owned by institutional investors.
Mueller Industries Price Performance
Shares of Mueller Industries stock opened at $59.07 on Thursday. The stock has a market capitalization of $6.71 billion, a P/E ratio of 11.84 and a beta of 1.08. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $60.31. The business’s 50 day simple moving average is $54.47 and its two-hundred day simple moving average is $48.53.
Mueller Industries (NYSE:MLI – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The business had revenue of $849.65 million during the quarter.
Mueller Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 7th. Mueller Industries’s dividend payout ratio (DPR) is currently 16.03%.
Wall Street Analyst Weigh In
MLI has been the subject of a number of research reports. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.
Check Out Our Latest Analysis on Mueller Industries
Insider Activity
In related news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the sale, the director now owns 103,914 shares of the company’s stock, valued at $6,090,399.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the sale, the director now directly owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares in the company, valued at approximately $17,949,535.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,169 shares of company stock valued at $3,391,302. Company insiders own 2.80% of the company’s stock.
Mueller Industries Company Profile
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.
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Source: defenseworld.net
