Ausbil Investment Management Ltd Raises Stock Holdings in Mueller Industries, Inc. $MLI

Key Points

• Ausbil Investment Management Ltd increased its stake in Mueller Industries, Inc. by 16.4% during the second quarter, now holding 46,369 shares worth approximately $3.7 million.
• Other institutional investors, including GAMMA Investing LLC and Central Pacific Bank Trust Division, also boosted their positions significantly in Mueller Industries, increasing the total institutional ownership to 94.50%.
• Mueller Industries recently reported earnings of $1.96 per share for the last quarter, surpassing analysts' estimates, along with a revenue growth of 14.1% year-over-year.

Ausbil Investment Management Ltd boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,369 shares of the industrial products company's stock after buying an additional 6,516 shares during the quarter. Mueller Industries accounts for about 2.2% of Ausbil Investment Management Ltd's holdings, making the stock its 21st biggest holding. Ausbil Investment Management Ltd's holdings in Mueller Industries were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Mueller Industries during the 4th quarter worth approximately $9,852,000. Central Pacific Bank Trust Division boosted its position in shares of Mueller Industries by 32.9% during the first quarter. Central Pacific Bank Trust Division now owns 9,300 shares of the industrial products company's stock worth $708,000 after buying an additional 2,300 shares during the period. GAMMA Investing LLC boosted its position in shares of Mueller Industries by 10,616.0% during the first quarter. GAMMA Investing LLC now owns 86,800 shares of the industrial products company's stock worth $6,609,000 after buying an additional 85,990 shares during the period. Summit Global Investments grew its stake in shares of Mueller Industries by 65.5% in the first quarter. Summit Global Investments now owns 14,830 shares of the industrial products company's stock valued at $1,129,000 after buying an additional 5,870 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Mueller Industries by 6.6% in the 1st quarter. Rhumbline Advisers now owns 388,212 shares of the industrial products company's stock valued at $29,558,000 after buying an additional 24,117 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 92,664 shares of the company's stock, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Trading Up 1.6%

MLI opened at $101.55 on Friday. The stock's 50-day moving average price is $93.46 and its 200 day moving average price is $82.78. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $102.75. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 16.12 and a beta of 1.05.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. The company 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%. Mueller Industries's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries's dividend payout ratio 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.

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