5,972 Shares in Mueller Industries, Inc. $MLI Bought by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC has acquired 5,972 shares of Mueller Industries, valued at approximately $475,000, marking their new position in the stock during the 2nd quarter.
• The company has announced a quarterly dividend of $0.25, representing a 1.0% annualized yield, with a payout ratio of 15.87%.
• Mueller Industries reported earnings of $1.96 per share for the last quarter, exceeding analyst expectations by $0.34 and achieving a revenue of $1.14 billion, reflecting a year-over-year increase of 14.1%.

Maridea Wealth Management LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,972 shares of the industrial products company's stock, valued at approximately $475,000.

Several other institutional investors and hedge funds have also modified their holdings of MLI. Golden State Wealth Management LLC lifted its position in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after buying an additional 168 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Mueller Industries by 267.3% during the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after buying an additional 278 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Mueller Industries during the 1st quarter worth $30,000. Wayfinding Financial LLC bought a new stake in shares of Mueller Industries during the 1st quarter worth $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries during the 1st quarter worth $40,000. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares of the company's stock, valued at $8,522,308.08. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Up 0.4%

Shares of MLI stock opened at $100.01 on Friday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $102.75. The company has a market cap of $11.07 billion, a P/E ratio of 15.87 and a beta of 1.05. The business has a fifty day simple moving average of $93.12 and a 200 day simple moving average of $82.62.

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

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.25 dividend. 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 dividend payout ratio is presently 15.87%.

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.

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