Coldstream Capital Management Inc. Purchases 549 Shares of Mueller Industries, Inc. (NYSE:MLI)

Coldstream Capital Management Inc. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,413 shares of the industrial products company’s stock after buying an additional 549 shares during the period. Coldstream Capital Management Inc.’s holdings in Mueller Industries were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MLI. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries in the 2nd quarter valued at about $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries during the second quarter worth approximately $28,000. GAMMA Investing LLC increased its position in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the last quarter. Larson Financial Group LLC raised its stake in Mueller Industries by 61.7% in the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after buying an additional 369 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

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

Analysts Set New Price Targets

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

Mueller Industries Price Performance

Shares of MLI opened at $82.48 on Monday. The company’s 50-day moving average is $82.18 and its 200-day moving average is $70.78. The firm has a market capitalization of $9.38 billion, a PE ratio of 16.02 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $44.03 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.97%. Mueller Industries’s payout ratio is currently 15.53%.

Mueller Industries 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.