CW Advisors LLC Makes New Investment in Mueller Industries, Inc. $MLI

Key Points

• CW Advisors LLC acquired a new position in Mueller Industries, purchasing 3,501 shares valued at approximately $267,000 during the first quarter.
• Mueller Industries reported a revenue increase of 14.1% year-over-year for the last quarter, with earnings per share surpassing analyst expectations at $1.96.
• The company declared a quarterly dividend of $0.25 per share, with an annual yield of 1.0%, payable on September 19th to shareholders of record on September 5th.

CW Advisors LLC bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,501 shares of the industrial products company's stock, valued at approximately $267,000.

Several other large investors also recently modified their holdings of MLI. Golden State Wealth Management LLC increased its stake in shares of 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 purchasing an additional 168 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 278 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Mueller Industries in the 1st quarter valued at $34,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries in the 1st quarter valued at $40,000. Finally, Quarry LP bought a new position in shares of Mueller Industries in the 4th quarter valued at $45,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Down 0.6%

Shares of MLI traded down $0.62 during midday trading on Friday, hitting $95.88. The company's stock had a trading volume of 690,057 shares, compared to its average volume of 753,917. Mueller Industries, Inc. has a one year low of $65.24 and a one year high of $97.26. The company's fifty day simple moving average is $87.10 and its two-hundred day simple moving average is $80.25. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 15.22 and a beta of 1.04.

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, beating the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The company's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued 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 1.0%. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

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.