111 Capital Buys Shares of 6,760 Mueller Industries, Inc. $MLI

Key Points

• 111 Capital acquired 6,760 shares of Mueller Industries, Inc. for approximately $537,000, indicating increasing interest from institutional investors as they own 94.50% of the company's stock.
• Mueller Industries reported a strong quarterly performance, with an EPS of **$1.96**, exceeding estimates, and a **14.1%** year-over-year increase in revenue, totaling **$1.14 billion**.
• The company announced a quarterly dividend of **$0.25 per share**, resulting in a **1.0% dividend yield** and illustrating its commitment to returning value to shareholders.

111 Capital bought a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,760 shares of the industrial products company's stock, valued at approximately $537,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares during the last quarter. Brooklyn Investment Group grew its holdings in Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after buying an additional 278 shares during the last quarter. Rise Advisors LLC acquired a new stake in Mueller Industries in the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in Mueller Industries in the 1st quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Mueller Industries in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Down 0.1%

Shares of NYSE:MLI opened at $100.46 on Monday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $102.75. The firm has a market capitalization of $11.12 billion, a PE ratio of 15.95 and a beta of 1.02. The business's 50 day moving average is $94.85 and its 200-day moving average is $83.52.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The business's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $105.00.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

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.

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