Epoch Investment Partners Inc. Grows Holdings in Mueller Industries, Inc. $MLI

Key Points

• Epoch Investment Partners Inc. increased its stake in Mueller Industries by 222.8% in Q1, acquiring 412,564 shares for a total of 597,704 shares worth approximately $45.5 million.
• Mueller Industries reported $1.96 earnings per share for the last quarter, exceeding analyst expectations of $1.62, with a revenue increase of 14.1% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, which will be paid on September 19th, representing an annualized yield of 1.0%.

Epoch Investment Partners Inc. boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 222.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 597,704 shares of the industrial products company's stock after acquiring an additional 412,564 shares during the period. Epoch Investment Partners Inc. owned about 0.54% of Mueller Industries worth $45,509,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new position in shares of Mueller Industries in the first quarter worth about $317,000. Fifth Third Bancorp lifted its stake in shares of Mueller Industries by 6.1% in the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock worth $282,000 after buying an additional 213 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Mueller Industries in the first quarter worth about $303,000. Chevy Chase Trust Holdings LLC purchased a new position in shares of Mueller Industries in the first quarter worth about $4,140,000. Finally, KBC Group NV lifted its stake in shares of Mueller Industries by 391.3% in the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock worth $1,567,000 after buying an additional 16,387 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Down 0.6%

MLI stock traded down $0.62 during trading on Friday, reaching $95.88. 690,057 shares of the stock were exchanged, compared to its average volume of 771,932. The business has a 50 day moving average price of $87.10 and a 200-day moving average price of $80.25. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $97.26. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 15.22 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

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

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares in the company, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The sale 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 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.