American Century Companies Inc. Reduces Holdings in 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. trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 1.53% of Mueller Industries worth $128,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Mueller Industries during the first quarter worth $34,000. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries in the first quarter valued at about $40,000. Quarry LP bought a new stake in shares of Mueller Industries in the fourth quarter valued at about $45,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Mueller Industries in the fourth quarter valued at about $53,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Down 1.2%

Shares of MLI stock traded down $1.0690 on Thursday, hitting $90.5910. The stock had a trading volume of 918,694 shares, compared to its average volume of 1,008,494. The business has a 50 day moving average price of $84.12 and a 200 day moving average price of $79.50. The company has a market cap of $10.03 billion, a PE ratio of 14.38 and a beta of 1.02. Mueller Industries, Inc. has a one year low of $65.24 and a one year high of $96.81.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 5th. Mueller Industries's payout ratio is presently 15.87%.

Insider Buying and Selling

In other Mueller Industries 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 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company's stock.

Mueller Industries 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.