Prairiewood Capital LLC Sells 195 Shares of Mueller Industries, Inc. (NYSE:MLI)

Prairiewood Capital LLC lessened its position 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 large investors have also added to or reduced their stakes in the company. Fiera Capital Corp bought a new position in shares of Mueller Industries during the 3rd quarter valued at about $35,552,000. Charles Schwab Investment Management Inc. boosted its stake in Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after buying an additional 315,490 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Mueller Industries by 77.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock valued at $29,152,000 after acquiring an additional 171,671 shares during the last quarter. Barclays PLC grew its position in Mueller Industries by 343.9% during the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after acquiring an additional 152,780 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after acquiring an additional 139,406 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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 business’s 50-day moving average price is $82.30 and its 200-day moving average price is $75.21. The company has a market cap of $9.32 billion, a P/E ratio of 15.92 and a beta of 1.00.

Mueller Industries (NYSE:MLI) last announced 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. The business had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

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

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

About Mueller Industries

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.