Arrowpoint Investment Partners Singapore Pte. Ltd. Purchases New Holdings in Mueller Industries, Inc. (NYSE:MLI)

Key Points

• Arrowpoint Investment Partners made a new investment of $434,000 in Mueller Industries, acquiring 5,697 shares of the company during the first quarter.
• Mueller Industries recently reported earnings of $1.96 EPS for the quarter, exceeding estimates and showing a 14.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.25 per share, representing an annual yield of 1.1% with a payout ratio of 15.87%.

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,697 shares of the industrial products company's stock, valued at approximately $434,000.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC increased 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 in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries during the first quarter worth $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the first quarter worth $40,000. Quarry LP acquired a new position in shares of Mueller Industries during the fourth quarter worth $45,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $53,000. Institutional investors own 94.50% of the company's stock.

Insider Buying and Selling

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 shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the sale, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Down 0.7%

Shares of MLI traded down $0.65 during trading hours on Friday, reaching $91.51. 591,312 shares of the company traded hands, compared to its average volume of 966,879. The stock has a market capitalization of $10.13 billion, a P/E ratio of 14.53 and a beta of 1.02. Mueller Industries, Inc. has a 12-month low of $65.24 and a 12-month high of $96.81. The business has a fifty day moving average price of $83.28 and a 200-day moving average price of $79.24.

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 analysts' consensus estimates of $1.62 by $0.34. The firm had revenue of $1.14 billion for 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%. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

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

Mueller Industries Company 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.