29,107 Shares in Mueller Industries, Inc. $MLI Bought by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 29,107 shares of Mueller Industries, valued at approximately $2.31 million, which now constitutes about 0.2% of the fund's holdings.
• Mueller Industries reported strong quarterly results with an EPS of $1.96, exceeding estimates and showing a year-over-year revenue increase of 14.1%.
• The company recently announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 1.0% and a low payout ratio of 15.87%.

Counterpoint Mutual Funds LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,107 shares of the industrial products company's stock, valued at approximately $2,313,000. Mueller Industries comprises approximately 0.2% of Counterpoint Mutual Funds LLC's holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Mueller Industries by 20.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 227,355 shares of the industrial products company's stock worth $18,043,000 after purchasing an additional 38,507 shares during the period. Focus Partners Advisor Solutions LLC bought a new position in Mueller Industries during the fourth quarter worth $293,000. Vise Technologies Inc. bought a new position in Mueller Industries during the fourth quarter worth $258,000. GTS Securities LLC bought a new position in Mueller Industries during the fourth quarter worth $285,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Mueller Industries during the fourth quarter worth $9,852,000. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Price Performance

MLI stock opened at $100.99 on Tuesday. The company has a fifty day moving average price of $92.20 and a two-hundred day moving average price of $82.24. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $101.33. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 16.03 and a beta of 1.04.

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

Mueller Industries Dividend Announcement

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

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.

Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.