Brandywine Global Investment Management LLC Purchases Shares of 68,921 Mueller Industries, Inc. $MLI

Key Points

• Brandywine Global Investment Management LLC has acquired 68,921 shares of Mueller Industries, valued at approximately $5.25 million, increasing its ownership to 0.06% of the company.
• During the first quarter, other institutional investors also made significant investments in Mueller Industries, with 94.50% of the stock owned by hedge funds and institutional investors.
• Mueller Industries reported a quarterly earnings increase, with EPS of $1.96, surpassing estimates and demonstrating a year-over-year revenue growth of 14.1%.

Brandywine Global Investment Management LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 68,921 shares of the industrial products company's stock, valued at approximately $5,248,000. Brandywine Global Investment Management LLC owned 0.06% of Mueller Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dagco Inc. bought a new stake in Mueller Industries during the 1st quarter valued at $77,000. Russell Investments Group Ltd. grew its position in shares of Mueller Industries by 12.2% during the 1st quarter. Russell Investments Group Ltd. now owns 135,219 shares of the industrial products company's stock valued at $10,296,000 after purchasing an additional 14,690 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Mueller Industries during the 1st quarter valued at $434,000. AIA Group Ltd grew its position in shares of Mueller Industries by 8.7% during the 1st quarter. AIA Group Ltd now owns 7,069 shares of the industrial products company's stock valued at $538,000 after purchasing an additional 568 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Mueller Industries during the 1st quarter valued at $54,072,000. Institutional investors own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 92,664 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 3.8%

Shares of MLI traded up $3.40 during mid-day trading on Friday, reaching $94.06. 391,869 shares of the stock traded hands, compared to its average volume of 1,006,849. The firm has a fifty day moving average price of $84.41 and a 200 day moving average price of $79.59. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 14.93 and a beta of 1.02. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.34. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. Mueller Industries'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 will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.1%. Mueller Industries's payout ratio is 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.