American Century Companies Inc. Sells 206,265 Shares of Mueller Industries, Inc. $MLI

Key Points

• American Century Companies Inc. reduced its holdings in Mueller Industries by 10.9%, now owning 1,688,998 shares valued at approximately $128.6 million.
• Mueller Industries reported a quarterly earnings beat of $1.96 EPS, exceeding estimates by $0.34, with a 14.1% increase in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.25 per share, payable on September 19th, which equates to an annualized yield of 1.1% and a payout ratio of 15.87%.

American Century Companies Inc. reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,688,998 shares of the industrial products company's stock after selling 206,265 shares during the quarter. American Century Companies Inc. owned approximately 1.53% of Mueller Industries worth $128,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Mueller Industries during the 4th quarter worth $6,855,000. Barclays PLC raised its position in shares of Mueller Industries by 32.4% in the 4th quarter. Barclays PLC now owns 261,004 shares of the industrial products company's stock worth $20,713,000 after buying an additional 63,798 shares during the period. NewEdge Advisors LLC grew its position in Mueller Industries by 10.0% during the fourth quarter. NewEdge Advisors LLC now owns 13,302 shares of the industrial products company's stock valued at $1,056,000 after acquiring an additional 1,212 shares during the period. First Trust Advisors LP raised its holdings in shares of Mueller Industries by 5.6% in the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after purchasing an additional 327,479 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Mueller Industries by 158.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 77,762 shares of the industrial products company's stock valued at $6,171,000 after purchasing an additional 47,706 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

Mueller Industries stock traded up $3.26 during trading on Friday, reaching $93.92. 177,558 shares of the company's stock were exchanged, compared to its average volume of 1,005,648. The company's 50-day moving average is $84.41 and its two-hundred day moving average is $79.59. Mueller Industries, Inc. has a 52-week low of $65.24 and a 52-week high of $96.81. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 14.92 and a beta of 1.02.

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

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio is currently 15.87%.

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 on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the transaction, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

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.