Barlow Wealth Partners Inc. Raises Holdings in Mueller Industries, Inc. $MLI

Key Points

• Barlow Wealth Partners Inc. increased its holdings in Mueller Industries by 29.7% in Q2, now owning 294,243 shares valued at approximately $24.47 million, making it one of their top ten investments.
• Mueller Industries reported strong quarterly earnings, with EPS of $1.96 surpassing expectations of $1.62, and revenues of $1.14 billion, reflecting a 14.1% year-over-year increase.
• The company announced a $0.25 quarterly dividend with a yield of 1.0%, showcasing its strong financial position with a payout ratio of just 15.87%.

Barlow Wealth Partners Inc. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 29.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,243 shares of the industrial products company's stock after acquiring an additional 67,406 shares during the period. Mueller Industries comprises about 2.9% of Barlow Wealth Partners Inc.'s investment portfolio, making the stock its 10th biggest holding. Barlow Wealth Partners Inc. owned about 0.27% of Mueller Industries worth $24,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Total Wealth Planning & Management Inc. grew its position in Mueller Industries by 2.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company's stock worth $473,000 after buying an additional 144 shares during the last quarter. Contravisory Investment Management Inc. grew its position in Mueller Industries by 6.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company's stock worth $207,000 after purchasing an additional 152 shares in the last quarter. Golden State Wealth Management LLC grew its position in Mueller Industries by 103.1% during the 1st 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. Rowlandmiller & PARTNERS.ADV grew its position in Mueller Industries by 3.4% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company's stock worth $442,000 after purchasing an additional 185 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its position in Mueller Industries by 4.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock worth $340,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Mueller Industries presently has a consensus rating of "Buy" and a consensus price target of $105.00.

Mueller Industries Trading Down 0.8%

MLI stock opened at $99.15 on Thursday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $102.75. The company has a fifty day simple moving average of $96.84 and a 200 day simple moving average of $84.59. The firm has a market cap of $10.98 billion, a PE ratio of 15.74 and a beta of 1.02.

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 (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. The business had revenue of $1.14 billion during 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 business's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries's payout ratio is currently 15.87%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business'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 $8,522,308.08. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

About Mueller Industries

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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