Dimensional Fund Advisors LP Sells 430,569 Shares of 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 decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 12.5% in the 1st quarter, according to 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 quarter. Dimensional Fund Advisors LP owned 2.73% of Mueller Industries worth $230,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MLI. Golden State Wealth Management LLC boosted its position in Mueller Industries by 103.1% during 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 during the period. Benjamin Edwards Inc. boosted its holdings in Mueller Industries by 5.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after acquiring an additional 187 shares during the period. Hohimer Wealth Management LLC increased its stake in Mueller Industries by 4.4% in 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 during the period. Monument Capital Management lifted 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 purchasing an additional 206 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of Mueller Industries by 1.4% during 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 purchasing an additional 213 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

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 transaction, the director directly owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $3.37 during mid-day trading on Friday, hitting $94.03. The stock had a trading volume of 391,869 shares, compared to its average volume of 1,006,849. The firm has a market cap of $10.41 billion, a P/E ratio of 14.93 and a beta of 1.02. The business has a 50 day moving average price of $84.41 and a two-hundred day moving average price of $79.59. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81.

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 analysts' consensus estimates of $1.62 by $0.34. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 5th. Mueller Industries's dividend payout ratio is currently 15.87%.

Mueller Industries Company 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.