Atria Wealth Solutions Inc. Takes $335,000 Position in Mueller Industries, Inc. $MLI

Key Points

• Atria Wealth Solutions Inc. has acquired a new stake in Mueller Industries, purchasing 4,402 shares valued at approximately $335,000 in the first quarter.
• Mueller Industries reported a quarterly EPS of $1.96, surpassing analysts' estimates of $1.62, with revenue of $1.14 billion, a 14.1% increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend of $1.00 and a yield of 1.1%, with the ex-dividend date set for September 5th.

Atria Wealth Solutions Inc. purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,402 shares of the industrial products company's stock, valued at approximately $335,000.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in Mueller Industries by 103.1% in the first 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 in the last quarter. Benjamin Edwards Inc. boosted its position in Mueller Industries by 5.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after buying an additional 187 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in Mueller Industries by 4.4% in the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after buying an additional 187 shares in the last quarter. Monument Capital Management boosted its position in Mueller Industries by 4.4% in the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock valued at $373,000 after buying an additional 206 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in Mueller Industries by 1.4% in the fourth quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock valued at $1,197,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.

Mueller Industries Trading Down 1.0%

Mueller Industries stock traded down $0.9150 during mid-day trading on Wednesday, reaching $91.6650. The company had a trading volume of 567,862 shares, compared to its average volume of 918,247. Mueller Industries, Inc. has a fifty-two week low of $65.24 and a fifty-two week high of $96.81. The company has a market cap of $10.15 billion, a P/E ratio of 14.55 and a beta of 1.02. The business has a fifty day simple moving average of $84.12 and a 200 day simple moving average of $79.50.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results 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. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The company's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is presently 15.87%.

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.