Dynamic Technology Lab Private Ltd Makes New $1.10 Million Investment in Mueller Industries, Inc. $MLI

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $1,096,000 in Mueller Industries, purchasing 14,399 shares during the first quarter.
• Mueller Industries reported a 14.1% year-over-year increase in revenue, reaching $1.14 billion, with an EPS of $1.96, beating estimates by $0.34.
• The company declared a quarterly dividend of $0.25 per share, with an annualized yield of 1.0%, to be paid on September 19th.

Dynamic Technology Lab Private Ltd purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,399 shares of the industrial products company's stock, valued at approximately $1,096,000.

Several other hedge funds and other institutional investors have also modified their holdings of MLI. Nuveen LLC purchased a new position in shares of Mueller Industries during the first quarter worth $54,072,000. AQR Capital Management LLC boosted its position in shares of Mueller Industries by 329.0% during the first quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company's stock worth $43,926,000 after buying an additional 451,261 shares during the period. SG Capital Management LLC purchased a new position in shares of Mueller Industries during the fourth quarter worth $34,704,000. Epoch Investment Partners Inc. boosted its position in shares of Mueller Industries by 222.8% during the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock worth $45,509,000 after buying an additional 412,564 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Mueller Industries by 202.1% during the fourth quarter. Janus Henderson Group PLC now owns 438,348 shares of the industrial products company's stock worth $34,801,000 after buying an additional 293,245 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

Shares of MLI traded up $0.64 during midday trading on Friday, hitting $99.51. 577,166 shares of the stock were exchanged, compared to its average volume of 983,032. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $99.93. The stock has a fifty day simple moving average of $90.11 and a 200 day simple moving average of $81.26. The firm has a market cap of $11.02 billion, a P/E ratio of 15.78 and a beta of 1.05.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.Mueller Industries's revenue for the quarter was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business 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 $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

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.