Crossmark Global Holdings Inc. Purchases Shares of 7,650 Mueller Industries, Inc. (MLI)

Crossmark Global Holdings Inc. purchased a new position in Mueller Industries, Inc. (NYSE:MLI) during the first quarter, Holdings Channel reports. The fund purchased 7,650 shares of the industrial products company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Mueller Industries by 1.6% in the 4th quarter. BlackRock Inc. now owns 8,294,970 shares of the industrial products company’s stock worth $193,770,000 after purchasing an additional 131,455 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Mueller Industries by 0.7% in the 4th quarter. Gabelli Funds LLC now owns 2,289,154 shares of the industrial products company’s stock worth $53,475,000 after purchasing an additional 16,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mueller Industries by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,084,663 shares of the industrial products company’s stock worth $48,698,000 after purchasing an additional 20,396 shares in the last quarter. Victory Capital Management Inc. increased its stake in Mueller Industries by 18.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,585,780 shares of the industrial products company’s stock worth $37,044,000 after acquiring an additional 242,439 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Mueller Industries by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 867,440 shares of the industrial products company’s stock worth $20,264,000 after acquiring an additional 4,472 shares during the last quarter. 92.75% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on MLI. TheStreet raised Mueller Industries from a “c+” rating to a “b” rating in a research note on Wednesday, February 6th. Zacks Investment Research raised Mueller Industries from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, February 7th. Finally, ValuEngine raised Mueller Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th.

NYSE:MLI opened at $27.76 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 3.56. Mueller Industries, Inc. has a 1 year low of $21.49 and a 1 year high of $34.24. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.92 and a beta of 1.37.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.29). Mueller Industries had a return on equity of 19.32% and a net margin of 3.87%. The firm had revenue of $661.80 million during the quarter. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Mueller Industries, Inc. will post 1.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, June 6th. Mueller Industries’s payout ratio is 21.51%.

In other news, Director Scott Jay Goldman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $32.75, for a total transaction of $32,750.00. Following the transaction, the director now owns 10,700 shares of the company’s stock, valued at approximately $350,425. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $32.69, for a total value of $1,634,500.00. Following the transaction, the chairman now directly owns 406,069 shares in the company, valued at approximately $13,274,395.61. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

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Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, and line sets for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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