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Annis Gardner Whiting Capital Advisors LLC Acquires New Stake in Mueller Industries, Inc. (NYSE:MLI)

Mueller Industries logo with Industrials background

Key Points

  • Annis Gardner Whiting Capital Advisors LLC has acquired a new stake in Mueller Industries, purchasing 8,400 shares valued at approximately $640,000.
  • Mueller Industries reported quarterly earnings of $1.96 per share, exceeding expectations, with revenue of $1.14 billion, up 14.1% from the previous year.
  • The company announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend of $1.00 and a yield of 1.2%.
  • Five stocks we like better than Mueller Industries.

Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,400 shares of the industrial products company's stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Mueller Industries during the 1st quarter worth approximately $34,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the 1st quarter worth approximately $40,000. Quarry LP acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $45,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Mueller Industries in the fourth quarter worth $53,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Up 2.1%

Shares of MLI opened at $85.05 on Tuesday. Mueller Industries, Inc. has a 12 month low of $62.74 and a 12 month high of $96.81. The firm has a fifty day simple moving average of $81.04 and a 200 day simple moving average of $78.64. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 13.50 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last announced 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 company had revenue of $1.14 billion during the quarter, compared to analysts' expectations 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 was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Mueller Industries's dividend payout ratio is currently 15.87%.

Insider Activity

In related news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director directly owned 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

About Mueller Industries

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI - Free Report).

Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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