Advisors Management Group Inc. ADV Raises Holdings in Mueller Industries, Inc. $MLI

Key Points

• Advisors Management Group Inc. increased its stake in Mueller Industries, Inc. by 51% in Q2, owning a total of 51,024 shares valued at approximately $4.05 million.
• Nuveen LLC purchased a new position worth $54 million in the first quarter, while AQR Capital Management raised its holdings by 329%, now owning 588,428 shares.
• Mueller Industries reported a 14.1% revenue increase year-over-year for the quarter, with EPS of $1.96, surpassing analyst expectations.

Advisors Management Group Inc. ADV grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 51.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 51,024 shares of the industrial products company's stock after buying an additional 17,239 shares during the quarter. Advisors Management Group Inc. ADV's holdings in Mueller Industries were worth $4,055,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in MLI. Nuveen LLC purchased a new position in Mueller Industries in the first quarter worth approximately $54,072,000. AQR Capital Management LLC raised its holdings in shares of Mueller Industries by 329.0% in the 1st quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company's stock valued at $43,926,000 after purchasing an additional 451,261 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Mueller Industries by 222.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock worth $45,509,000 after purchasing an additional 412,564 shares during the last quarter. TD Asset Management Inc purchased a new stake in shares of Mueller Industries during the 1st quarter worth $18,114,000. Finally, Bessemer Group Inc. grew its stake in shares of Mueller Industries by 78.2% during the first quarter. Bessemer Group Inc. now owns 443,281 shares of the industrial products company's stock worth $33,751,000 after purchasing an additional 194,463 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction of $91,970.00. Following the sale, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

NYSE:MLI opened at $101.55 on Friday. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $102.75. The firm has a market capitalization of $11.24 billion, a PE ratio of 16.12 and a beta of 1.05. The business's fifty day moving average price is $93.46 and its 200 day moving average price is $82.76.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

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