Dimensional Fund Advisors LP Has $230.26 Million Stake in Mueller Industries, Inc. $MLI

Key Points

• Dimensional Fund Advisors LP reduced its stakes in Mueller Industries by 12.5%, selling 430,569 shares, and now owns approximately 2.73% of the company worth $230.3 million.
• Despite a recent stock decline of 1.0%, Mueller Industries reported strong quarterly earnings, exceeding analysts' estimates with revenues of $1.14 billion and earnings per share of $1.96.
• The company announced a quarterly dividend of $0.25, with an ex-dividend date of September 5th, representing an annualized yield of 1.1%.

Dimensional Fund Advisors LP trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,024,277 shares of the industrial products company's stock after selling 430,569 shares during the period. Dimensional Fund Advisors LP owned about 2.73% of Mueller Industries worth $230,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dagco Inc. purchased a new stake in shares of Mueller Industries during the first quarter worth $77,000. Russell Investments Group Ltd. raised its holdings in shares of Mueller Industries by 12.2% during the first quarter. Russell Investments Group Ltd. now owns 135,219 shares of the industrial products company's stock worth $10,296,000 after acquiring an additional 14,690 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Mueller Industries during the first quarter worth $434,000. AIA Group Ltd raised its holdings in shares of Mueller Industries by 8.7% during the first quarter. AIA Group Ltd now owns 7,069 shares of the industrial products company's stock worth $538,000 after acquiring an additional 568 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Mueller Industries during the first quarter worth $54,072,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded up $3.5490 during midday trading on Friday, hitting $94.2090. 671,390 shares of the stock were exchanged, compared to its average volume of 874,775. The company has a market capitalization of $10.43 billion, a PE ratio of 14.95 and a beta of 1.02. Mueller Industries, Inc. has a 52-week low of $65.24 and a 52-week high of $96.81. The business's fifty day simple moving average is $84.81 and its two-hundred day simple moving average is $79.72.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.25 per share. 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%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the 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 transaction, the director directly owned 92,664 shares of the company's stock, valued at $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by 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.