Prairiewood Capital LLC Decreases Holdings in Mueller Industries, Inc. (NYSE:MLI)

Prairiewood Capital LLC trimmed its stake in Mueller Industries, Inc. (NYSE:MLI) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,086 shares of the industrial products company’s stock after selling 195 shares during the quarter. Prairiewood Capital LLC’s holdings in Mueller Industries were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund raised its holdings in shares of Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after purchasing an additional 68,633 shares during the period. State Street Corp raised its stake in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares during the period. Creative Planning lifted its position in shares of Mueller Industries by 36.5% during the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after buying an additional 10,714 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Mueller Industries by 42.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 46,747 shares of the industrial products company’s stock worth $3,464,000 after acquiring an additional 13,933 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Up 0.2 %

MLI opened at $81.98 on Tuesday. Mueller Industries, Inc. has a 12 month low of $45.20 and a 12 month high of $96.81. The company has a market cap of $9.32 billion, a PE ratio of 15.92 and a beta of 1.00. The company has a 50 day moving average of $82.30 and a 200 day moving average of $75.21.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, December 6th. Mueller Industries’s payout ratio is presently 15.53%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, December 11th.

Insider Activity

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 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.