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MLI Mueller Industries

Mueller Industries, Inc. engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind. Co., LTD. The Industrial Metals segment includes brass rod and copper bar products, impacts and micro gauge, and brass value-added products. The Climate segment offers refrigeration products, fabricated tube products, Westermeyer Industries, Inc., and Turbotec Products, Inc. The company was founded on October 3, 1990 and is headquartered in Memphis, TN.

Company profile

Ticker
MLI
Exchange
CEO
Gregory Christopher
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
250790410

MLI stock data

(
)

Calendar

21 Apr 21
22 Apr 21
25 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 149.03M 149.03M 149.03M 149.03M 149.03M 149.03M
Cash burn (monthly) (positive/no burn) 1.91M (positive/no burn) (positive/no burn) 7.53M (positive/no burn)
Cash used (since last report) n/a 1.66M n/a n/a 6.55M n/a
Cash remaining n/a 147.37M n/a n/a 142.48M n/a
Runway (months of cash) n/a 77.1 n/a n/a 18.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Apr 21 Gladstein Gary S Common Stock Option exercise Aquire M No No 15.11 4,889 73.87K 119,852
15 Apr 21 Gladstein Gary S Stock Option (Right-to-Buy) Common Stock Option exercise Dispose M No No 15.11 4,889 73.87K 0
12 Apr 21 Gregory L. Christopher Common Stock Sell Dispose S No Yes 44 8,851 389.44K 451,165
9 Apr 21 Gregory L. Christopher Common Stock Sell Dispose S No Yes 44 16,149 710.56K 460,016
1 Apr 21 Goldman Scott Jay Common Stock Gift Dispose G No No 0 100 0 15,000
24 Feb 21 Devin Malone Common Stock Option exercise Aquire M No No 17.21 1,833 31.55K 31,584
24 Feb 21 Devin Malone Stock Option (Right-to-Buy) Common Stock Option exercise Dispose M No No 17.21 1,833 31.55K 0
18 Feb 21 Goldman Scott Jay Common Stock Buy Aquire P No No 37.07 400 14.83K 15,200
18 Feb 21 Goldman Scott Jay Common Stock Sell Dispose S No No 37.05 400 14.82K 14,800

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

90.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 192 189 +1.6%
Opened positions 25 24 +4.2%
Closed positions 22 19 +15.8%
Increased positions 66 68 -2.9%
Reduced positions 73 65 +12.3%
13F shares
Current Prev Q Change
Total value 1.83B 1.38B +32.6%
Total shares 51.95M 50.84M +2.2%
Total puts 26.5K 32K -17.2%
Total calls 0 17K EXIT
Total put/call ratio Infinity 1.9 +Infinity%
Largest owners
Shares Value Change
BLK Blackrock 8.68M $304.85M +6.3%
Vanguard 5.61M $197.08M +1.8%
WFC Wells Fargo & Co. 4.1M $143.91M +1.3%
GBL Gamco Investors 3.42M $119.94M -0.8%
Gabelli Funds 2.19M $76.75M -0.8%
Wellington Management 2.14M $75.07M -7.7%
Dimensional Fund Advisors 2.11M $74.15M -1.3%
Victory Capital Management 1.79M $62.98M +27.1%
STT State Street 1.78M $62.64M +1.8%
Gates Capital Management 1.54M $54.06M -16.0%
Largest transactions
Shares Bought/sold Change
Norges Bank 852.29K +852.29K NEW
BLK Blackrock 8.68M +517.63K +6.3%
BEN Franklin Resources 915.6K -395.45K -30.2%
Royce & Associates 784.41K +388.21K +98.0%
Victory Capital Management 1.79M +382.66K +27.1%
Gates Capital Management 1.54M -292.86K -16.0%
Southpoint Capital Advisors 200K +200K NEW
Assenagon Asset Management 0 -191.78K EXIT
Wellington Management 2.14M -177.22K -7.7%
GS Goldman Sachs 216.44K -167.71K -43.7%

Financial report summary

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Management Discussion
  • The increase in net sales during the first quarter of 2021 was primarily due to (i) higher net selling prices of $150.4 million in our core product lines, primarily copper tube and brass rod, (ii) higher unit sales volume of $19.6 million in our core product lines, (iii) sales of $15.3 million recorded by Kessler Sales and Distribution (KSD), acquired in August 2020, and (iv) sales of $7.6 million recorded by H&C Flex (H&C), acquired in January 2021.
  • Cost of goods sold increased in the first quarter of 2021 primarily due to the factors noted above regarding the change in net sales. Gross margin as a percentage of sales was 18.3 percent compared with 15.6 percent in the prior year quarter. This improvement was primarily due to the impact from year-over-year changes in material costs for our businesses that account for inventory on a FIFO basis, an increased mix of sales from higher margin products, lower manufacturing costs, and lower employee healthcare costs. Depreciation and amortization increased slightly for the first quarter of 2021 primarily as a result of depreciation and amortization of the long-lived assets of businesses acquired. Selling, general, and administrative expense increased in the first quarter of 2021 primarily as a result of expenses associated with KSD and H&C of $2.7 million. In addition, during the first quarter of 2020 we recognized a gain of $21.9 million for the settlement of our claim under the Deepwater Horizon Economic and Property Damage Settlement Program and asset impairment charges of $3.0 million related to production equipment that was idled.
  • Interest expense decreased for the first quarter of 2021 primarily as a result of decreased borrowing costs due to lower principal outstanding and reduced interest rates associated with our unsecured $350.0 million revolving credit facility. Other income, net, was consistent with the first quarter of 2020.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: alternative, capacity, cessation, Clarifying, Codification, conforming, Cooley, Flex, Hart, interbank, loan, London, manipulation, matured, meant, premium, redemption, replace, separate, simplify, Simplifying, slight, sublimit, susceptible, Swing, undertaken, vendor, wording, world
Removed: ability, ADA, aggregate, alleged, alleging, assistance, ATCO, attendance, bad, behalf, behavior, beneficial, Central, chain, Commission, complaint, conciliation, conclusion, consensual, consultation, continue, coverage, create, created, crediting, cultivate, customer, degree, depend, disclose, discrimination, discriminatory, duration, economy, EEOC, employment, equitable, free, fully, governmental, half, identification, individual, input, leave, legislation, limitation, Los, managerial, mediation, model, monetary, narrative, negative, OCI, Office, Opportunity, originally, outbreak, proactive, public, quickly, recognition, recordkeeping, reduction, regular, relief, repayment, resolve, resolving, resume, Retirement, retrospectively, significantly, sponsor, spread, Subtopic, supervisory, supply, terminated, thereto, thousand, training, travel, ultimately, uncertain, uncertainty, unidentified, unlawful, unobservable, unrealized, violation, volatility, weighted, workplace

Patents

APP
Utility
Fitting Apparatus for Connecting Pipes
4 Mar 21
A fitting apparatus for connecting pipes according to the present invention includes a fitting unit which includes a first body into which a first pipe is inserted and a second body which is connected to the first body to form a pipe insertion space therein together with the first body and into which a second pipe is inserted, wherein in the first body and the second body, a first recessed groove and a second recessed groove spaced apart inward from the first recessed groove are formed along an inner circumferential surface thereof, respectively, a compression member which is provided in the first recessed groove to compress and fix the first pipe or the second pipe, and a sealing member which is provided in the second recessed groove to maintain airtightness between the fitting unit and the first pipe or between the fitting unit and the second pipe.
GRANT
Utility
Valve assembly and method of making
14 Dec 20
A ball valve includes a valve body and a valve assembly.
APP
Utility
Powder Metallurgy Process For Making Lead Free Brass Alloys
20 May 20
Graphite-containing brass alloy billets having less than 0.25 wt. % lead and a method of manufacturing relating thereto are provided.
APP
Utility
Fitting Spanner
11 Mar 20
A fitting spanner configured to couple a first fitting and a second fitting that are separated by a gap having a length that is less than a diameter of an insertion end of each of the first and second fittings.
GRANT
Utility
Plug with handle
23 Dec 19
A plug for sealing an interior of a tube and including a cylindrical body having a first end that is open and includes an annular surface, and a second end that is closed by a conical end wall.