Dynamic Technology Lab Private Ltd Makes New 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 stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,399 shares of the industrial products company's stock, valued at approximately $1,096,000.

Several other large investors have also modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Mueller Industries by 0.4% in the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after purchasing an additional 10,968 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Mueller Industries by 15.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock valued at $93,259,000 after purchasing an additional 166,012 shares during the last quarter. Systematic Financial Management LP lifted its stake in Mueller Industries by 1.0% during the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock worth $72,875,000 after acquiring an additional 9,463 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Mueller Industries by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company's stock worth $67,087,000 after acquiring an additional 45,672 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Mueller Industries during the 1st quarter worth about $54,072,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Up 0.2%

MLI traded up $0.21 during mid-day trading on Friday, hitting $99.08. 1,145,850 shares of the stock were exchanged, compared to its average volume of 670,866. The firm's fifty day moving average is $90.42 and its two-hundred day moving average is $81.40. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $99.93. The company has a market cap of $10.97 billion, a PE ratio of 15.73 and a beta of 1.05.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The business's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

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

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

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.